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Shuaa Capital appoints new CIO, share remains volatile
- United Arab Emirates: Monday, March 11 - 2013 at 14:01
The DFM General Index finished Monday trading 1.10% higher at 1,930.10 points. Emaar advanced 1.62% to close at Dhs5.65, the highest price level since Oct. 22 2008. Shuaa Capital gained at the opening but eventually lost 0.17% to Dhs0.577. Earlier in the day, Shuaa said it appointed Dr. Sabah Al-Binali CIO of Shuaa Capital and CEO of Shuaa Credit. Al-Binali joined Shuaa last year as vice chairman of its UAE-based subsidiary Gulf Finance Corp. Al-Binali, who holds a Ph.D. in Computational Finance from Columbia University and a B.S.E. in Computer Science from Princeton University, also serves as Chairman of the recently established Gulf Installments Company in Saudi Arabia. Al-Binali said earlier last week at the SME Roundtable in the DIFC that he sees huge potential in SME financing in the region as bank loans to SMEs stand only for 2% of total loans in the GCC, compared to over 30% in Morocco.
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Gérard Al-Fil, Financial JournalistMonday, March 11 - 2013 at 14:01 UAE local time (GMT+4)
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