AlKhair Capital, a leading Saudi-based investments institution, has opened its new branch at the Dubai International Financial Centre (DIFC) to cater to its customers in the emirates.

A gala dinner was held at Jumeirah Emirates Towers last week to celebrate the occasion. The event was attended by more than 100 people, including the company's top officials chairman Yousef Al-Shelash and CEO Khaled Al Mulhim besides board members and executives from the banking sectors, said a company statement.

AlKhair Capital (Dubai) became the first Saudi investment company registered and regulated by the Capital Market Authority in Saudi Arabia to receive a DFSA licence to operate in DIFC, the statement added.

Speaking at the opening, Al- Shelash said getting approval from the Dubai Financial Services Authority and its new branch at DIFC was a major step forward in its growth strategy across the region.

The company, he stated, was extremely delighted to extend its capabilities in financial and investments services to clients in the UAE. "Over the years, we have differentiated our service offerings and we are glad to bring our expertise and industry knowledge to DIFC, in line with our envisioned future," he added.

Al Shelash added: “As a company, we have analyzed the market needs and evolution of Dubai as a hub for Islamic finance, which is our forte. The burgeoning demand for Sukuk instruments is an encouraging sign of the market demand and potential in the coming years. We are confident that AlKhair will be able to add value to the industry as a whole with our presence in Dubai.”

Al Shelash emphasized the importance of the support that they received from all of the leaders in Saudi Arabia and the UAE for the development of intra-regional trade under the umbrella of the Gulf Cooperation Council.

AlKhair Capital Saudi Arabia, which commenced operations in the kingdom in 2009, seeks to provide the market with an integrated and comprehensive range of Sharia-compliant investment products and services, with an emphasis on delivering exceptional value and tailored solutions to clients and shareholders.

The major shareholder in AlKhair Capital Saudi Arabia is Bank AlKhair. Founded in 2004 and headquartered in Bahrain, Bank AlKhair is an Islamic wholesale bank with subsidiaries in Malaysia and Turkey.-TradeArabia News Service