CI Capital partners with Saudi's Al Rajhi for expansion

CAIRO – 12 November 2017: Local investment bank CI Capital signed an agreement Sunday with Saudi-based Al Rajhi Capital (ARC) to provide the former access to the Saudi equity capital market.

The agreement comes following investors’ increased interest in Saudi Arabia, which is currently implementing a comprehensive plan for national transformation, under the name of Vision 2030, CI Capital said in a statement.

“The partnership is not only a key milestone in our brokerage regional expansion strategy but more importantly serves as a vital entry point for our clients to KSA, the Middle East’s largest exchange," CI Capital's head of brokerage Karim Khadr said.

Khadr added that Saudi Arabia represents 40.7 percent of total market capitalization in the Middle East and North Africa.

Under the partnership, Al Rajhi offers access and execution opportunities for CI Capital's institutional clients.

Al Rajhi Capital is Al Rajhi Bank’s investment branch; it is also the biggest bank in Saudi Arabia and hold assets worth $84.2 billion.