Kuwait Financial Centre (Markaz), an asset management company, is considering establishing a new equity fund and intends to open a branch in Saudi Arabia next year,  Deena AlRefai, Executive Vice President of Wealth Management and Business Development at the company told Zawya Arabic.

Markaz, founded in 1974, specializes in asset management and investment services and has been listed on the Kuwait stock exchange since 1997.

Kuwait is the company’s main market, and it operates in 13 countries, with representative offices in Arab markets including Saudi Arabia, the UAE, and Lebanon, though it does not have branches in these countries.

“A study is underway for a new fund focused on equities... the study is in its initial stage,” Al Refai said in an interview with Zawya Arabic on the sidelines of the MoneyTech 2025 summit held in Kuwait earlier this month.

She did not provide further details on when the study would be completed or the markets that will be targeted by the new fund.

Markaz’s total assets under management reached KD1.61 billion ($5.2 billion) by the end of September, and it manages nine funds, including both equity and real estate funds.

Regarding expansion in Saudi Arabia, Al Refai said: “We have received initial approval and will be opening in Saudi Arabia. This is expected to materialize in 2026.”

She noted that the license would initially be for advisory services and could later expand to include other company services such as portfolio and fund management.

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