Jan 14 2013
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Ahlibank obtains new CMA licences, expands investment banking services
The above activities will be in addition to the existing licenses to provide Brokerage and Investment advisory services. Thanking CMA for its approval, the chief executive officer, Abdulaziz al Balushi, said, "On our fifth anniversary, we are happy to launch our full-suite investment banking services offering.
Subject to necessary regulatory approvals, we are planning to offer asset management services spanning Discretionary Portfolio Management, Sharia compliant mutual funds and innovative investment instruments. Our group presence across GCC and MENA region give us a great advantage and synergy in encashing opportunities across the region for the benefit of our investors."
Ahlibank which celebrated its 5th anniversary on January 5 has witnessed commendable growth in this period. The bank which has a fully-fledged commercial banking operation is awaiting final approval to commence its Islamic Banking operations. Along with its strategic partner Ahli United Group, the bank boasts of expertise and heritage of 47 years in the region with client assets in excess of US$4bn under administration.
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