UAE's National Bonds set to gain foothold in Saudi by Q1 2019

31/10/2018 Argaam

 

UAE-based National Bonds Corporation is set to establish a foothold in the Saudi market by Q1 2019, chief executive Mohammed Qasim Al Ali said, as quoted by UAE daily Emarat Al Youm.

 

"The company is finalizing the licensing measures via the Saudi Capital Market Authority (CMA)", Al Ali added on the sidelines of the Global Islamic Economy Summit 2018.

 

The firm is working on a new system, similar to that of the ride-hailing apps like Uber and Careem, which will enable the clients to reach the company's agents anytime, Al Ali noted.

 

"The company has a sukuk portfolio of more than AED 6 billion, and a client base of 800,000," he noted, adding that firms claimed around 20 percent, or AED 1.5 billion of the sukuk portfolio.

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