DUBAI — SHUAA Capital psc - the UAE’s premier integrated financial services firm and National Bonds - a leading savings and investment company, have announced plans to launch a joint venture in the Kingdom of Saudi Arabia. A Memorandum of Understanding was signed recently by both parties detailing their commitment to offer savings and investments schemes in Saudi Arabia.

By combining the expertise of SHUAA Capital and National Bonds, the partnership aims to meet a growing demand for investment and savings solutions in the Kingdom, in line with the Kingdom’s Financial Sector Development program. The program, a key enabler in achieving the Vision 2030’s objectives, aims to create a robust financial service sector to support a diversified Saudi economy.

Mohammed Qasim Al Ali, Chief Executive Officer of National Bonds Corporation, said: “In partnership with SHUAA Capital, National Bonds is delighted to announce our expansion in Saudi Arabia. It is an exciting time for the Kingdom as it strives to create a diverse and sustainable economy for its citizens and we are committed to providing best-in-class services – across the country – to help further the country’s ambitions in boosting the savings programs.”