Arbah to open branches in Asia

Arbah Global Gulf, global investment arm of the Saudi based Arbah Capital, has signed a joint venture agreement with a number of Asian financial institutions to establish Arbah Capital Asia, which will be based in Bahrain.

The signing of the agreement took place in Arbah Capital's headquarters in Dammam during a two-day session that was held for the various partners to lay down the groundwork for the venture.

The agreement forms part of Arbah Capital's plans to deliver sophisticated financial services which are consistent with of Shariah-compliant financial institutions to forge strategic alliances that will help them achieve their goals.

Dhafer Alqahtani, CEO of Arbah Global, signed the agreement on behalf of the firm in presence of members of Arbah Capital's Board of Directors, including Sheikh Hussein Al Nemer, Chairman of Awali and member of Arbah Capital and Arbah Global Gulf's Boards of Directors. The Asian financial institutions signing the agreement were Chinese firms Shanghai International Asset Management; LottVision; Philip KH Wong, Kennedy YH Wong & Co.; Calypso Capital; and S Korean firms Goodmorning Shinhan and Sejong Investment Management.

Sheikh Hussein said: "The business and financial relations between GCC states and East Asia region have experienced noticeable growth over the last few years. This alliance aims to establish local and Asian investment funds to capitalise on opportunities within most sectors."