World's first global Islamic wealth and asset management brand 'SAFA' launched by the Investor for Securities Company
- Saudi Arabia: Tuesday, October 09 - 2012 at 16:29
- PRESS RELEASE
The Investor for Securities Company launched Safa Investment Services the world's first global Islamic asset manager in GCC at a grand opening ceremony in Four Seasons Hotel, Al Riyadh, on the 8th of October 2012.
Mr. John Sandwick, Manager, Safa Investment Services, said, "Professionally managed assets worldwide are now around $80 trillion, of which Muslims own at least $3 trillion. What is striking is that almost none of that is invested with any respect for Sharia. A lot of that is invested in the types of securities that actually accelerated the global financial crisis. Sharia-compliant investing means sticking to true assets, assets which are producing good for the community and the economy. As an added bonus we discovered that Sharia-compliant investing produces superior profits than conventional investing."
The Investor is a regulated investment company based in Riyadh with SR200m paid-in capital. Over the last two years The Investor has become what is considered the most profitable investment company in Saudi Arabia, with now over $1bn in total Assets Under Management ("AUM"). The company is a leader in the development and distribution of high-end real estate funds, Saudi stock market funds, and corporate finance and advisory transactions.
Mr. Abdullah Al Fouzan, Chairman of The Investor for Securities said, "We are delighted to open this new and exciting section at the Investor. It is our strategy to expand our services to provide a cutting-edge solution for hundreds of billions of savings in Saudi investments that need to be liquid investments, at the same time have strong long-term returns. "SAFA" offers purity and invents a way to convert the underlying assets in the active Murabaha investments, offering safe good low-risk returns. "
The Investor, a CMA-licensed investment company founded in 2007 in Riyadh is regulated by the Saudi Capital Market Authority and advised by the Sharia Review Bureau.
Mr. Bandar Al Ahmadi- CEO of The Investor for Securities said, "The launch of such a product has appeared after researches and previous studies revealed a real need of individuals and companies in Saudi Arabia for a product that this flexible. Safa is the result of a general agreement between The Investor for Securities and the Geneva-based investment company Islamic Wealth & Asset Management S.A. ("IWAMSA"). We are glad that we have succeeded in providing investment funds, real estate and other financial services that are hugely successful. We floated the largest IPO for a real estate fund in the region, more than 4 billion Saudi riyals in order to create a digital city in Riyadh. The Investor has arranged financing for a wide range of clients in Saudi Arabia exceeding a value of SR3bn this year. We continue to provide superior services and products in the IPO and portfolio management services as well as financial consulting."
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