Al Ramz and Derayah to expand investment products in Saudi Arabia
By Delisha Fernandes
Al Ramz Corporation PJSC, a financial institution headquartered in the UAE, and Derayah, a Saudi financial services company, have announced a strategic partnership to revolutionise market making and liquidity provision in Saudi Arabia.
The comprehensive agreement, encompassing various investment banking aspects, forged through the collaborative efforts of both institutions, aims to transfer knowledge and expertise into a new joint venture entity, aligning with CMA’s vision to enhance the market and broaden investment offerings in the Saudi market.
Mohammad Al Mortada Al Dandashi, Group Managing Director of Al Ramz Corporation PJSC said, “We are delighted to be partnering with Derayah in this strategic initiative. Together, we aim to set new standards in market making and liquidity provision through the combined experience and expertise of Al Ramz and Derayah, driving not only the growth of our institutions but also contributing positively to Saudi Arabia’s thriving financial sector. This alliance underscores our unwavering commitment to our clients and stakeholders.”
This partnership signifies a new era of cross-border financial collaboration, enhancing both companies’ capacity to serve investors and contribute to the advancement of Saudi Arabia’s thriving financial markets under Vision 2030. Both parties are committed to allocating the necessary investments and technical expertise to ensure the new company achieves its set objectives and helps it grow and attain a leading position in the sector.
Mohammed Al Shammasi, CEO of Derayah, said, “This collaboration with Al Ramz represents an important milestone for Derayah. We believe this partnership will be pivotal in enhancing our offerings and cementing our position in Saudi Arabia’s financial markets. It’s an exciting time for both of our institutions as we strive to deliver unprecedented levels of service to our clients. Together, we look forward to leveraging our combined strengths and expertise to shape the future of market making and liquidity provision.”
IBSi Daily News Analysis
November 28, 2023
A $4 trillion Islamic banking market to be driven by FinTech, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage