UAE-based GII expands in Saudi Arabia

UAE-based GII expands in Saudi Arabia

UAE – Mubasher: Gulf Islamic Investments (GII) has acquired an entity licensed by the Saudi Capital Market Authority (CMA) to boost operations in the kingdom.

GII operations in Saudi Arabia will include corporate finance advisory, investment funds, asset management, private equity, and structured finance, according to a press release.

The UAE-based bank is now authorised to deal as principal, agent, and underwriter, arranging and advising of financial offerings and managing investment funds. 

Mohammed Alhassan, co-founder and co-CEO of GII Group, said: “This welcome development supercharges GII’s plans to boost its operations in the kingdom, extending our recent investments in Saudi healthcare and food processing firms with the addition of a powerful investment and asset management vehicle.”

“We remain keen to grow our presence here through acquisitions and co-investments with Saudi and other GCC investors,” Alhassan added.

Pankaj Gupta, co-founder and co-CEO, stated, “We are extremely grateful to the Saudi Capital Market Authority for its rapid processing of our acquisition, through which GII can leverage its existing relationships in the Kingdom to play a wider role in Saudi Arabia’s rapidly-expanding economy.”

“Our shareholders and investors want us to be more active in the GCC’s largest market, in which attractive investment opportunities can engender further development, increased