Itqan Capital said to develop Sharia-compliant brokerage

27/04/2015 Argaam
Itqan Capital, a Saudi-based Islamic investment firm, will establish a Sharia-compliant brokerage arm as part of a joint venture, Adil Dahlawi, the company's chief executive officer has told Reuters.
 
The new business  is expected to see a soft launch ahead of Tadawul's mid-June opening to foreign investors.
 
It will also offer investment services such as stock screening, margin trading, and add PE funds to its services
 
The firm will tap into Al Baraka’s branch network and launch initially launch in five countries, including Turkey and South Africa, Dahlawi added.
 
Itqan Capital will also soon launch a $200 million private equity fund that focuses on education-related projects. It is expected to file for approval with the Capital Market Authority (CMA), Saudi Arabia’s financial regulator, by the end of this month.

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