After its foray into investment banking services, Ahlibank is expanding its service offering with new licenses obtained from the Capital Market Authority (CMA). The new activities are: Portfolio Management, Fund Management, Issue Management and Issuer of Structured Instruments.
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."
The bank has established a full fledged asset management and brokerage teams, with research capabilities utilising proprietary models and execution platforms catering to both equity and debt securities with a geographic coverage extending to include both GCC and MENA. CB Ganesh, deputy CEO added, "With the announcement of a growth-oriented budget by the government, we see a great opportunity for investment banking. With our track record in commercial banking along with our well experienced and talented team, we are confident of exceeding our client's expectations in meeting their investment banking requirements."
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.
© Muscat Daily 2013
