31 October 2011
MUSCAT -- The Financial Corporation Co SAOG, "Fincorp" and Rasmala Investments (Oman) LLC announced yesterday the signing of a Memorandum of Understanding (MoU) for consolidating the Securities Brokerage Business.
The consolidation of the brokerage business between the two companies will allow Rasmala to execute its regional client orders in the Muscat Securities Market (MSM) through Fincorp. The brokerage consolidation will also offer Fincorp the access to execute its regional client orders through Rasmala regional brokerage desk.
Fincorp is a leading investment banking company in Oman with a business model comprising the wealth management business and the private equity business. The Wealth Management Business manages assets over $130 million both in the form of discretionary/nondiscretionary and funds. The Wealth Management has an in-house brokerage which also caters to external clients both directly and through a 'state of the art' online trading terminal.
Rasmala will continue its existing activities in Oman
in Financial Advisory and Marketing of Non-Omani Securities to institutional clients.
Rasmala operates a regional brokerage desk based in Dubai and offers institutional Omani clients access to all MENA equity markets along with equity research, through its partnership with the Royal Bank of Scotland.
Munir A Makki, Managing Director & President, said that the financial markets globally are going through a period of consolidation.
The MoU with Rasmala will help in consolidating and integrating the securities business and enable achieve better economies of scale.
Al Harith al Khalili, MD, Rasmala said: This step comes as an outcome of Rasmala's strategy to enter into local strategic partnerships and alliances, which integrates with Rasmala's regional vision.
MUSCAT -- The Financial Corporation Co SAOG, "Fincorp" and Rasmala Investments (Oman) LLC announced yesterday the signing of a Memorandum of Understanding (MoU) for consolidating the Securities Brokerage Business.
The consolidation of the brokerage business between the two companies will allow Rasmala to execute its regional client orders in the Muscat Securities Market (MSM) through Fincorp. The brokerage consolidation will also offer Fincorp the access to execute its regional client orders through Rasmala regional brokerage desk.
Fincorp is a leading investment banking company in Oman with a business model comprising the wealth management business and the private equity business. The Wealth Management Business manages assets over $130 million both in the form of discretionary/nondiscretionary and funds. The Wealth Management has an in-house brokerage which also caters to external clients both directly and through a 'state of the art' online trading terminal.
Rasmala will continue its existing activities in Oman
in Financial Advisory and Marketing of Non-Omani Securities to institutional clients.
Rasmala operates a regional brokerage desk based in Dubai and offers institutional Omani clients access to all MENA equity markets along with equity research, through its partnership with the Royal Bank of Scotland.
Munir A Makki, Managing Director & President, said that the financial markets globally are going through a period of consolidation.
The MoU with Rasmala will help in consolidating and integrating the securities business and enable achieve better economies of scale.
Al Harith al Khalili, MD, Rasmala said: This step comes as an outcome of Rasmala's strategy to enter into local strategic partnerships and alliances, which integrates with Rasmala's regional vision.
© Oman Daily Observer 2011
