https://arab.news/nmj9p
RIYADH: Valuable Capital Financial Co., a subsidiary of Hong Kong-based financial institution Valuable Capital Group Limited, received a license from Saudi Arabia's Capital Market Authority to provide custody, advice, and dealing services in the Kingdom.
The company said it will provide trading, consulting and asset custody services in order to improve and facilitate Saudi investors' ability to build global investment portfolios.
Upon receiving further approval from the CMA, more financial services such as asset management, initial public offering advisory, and fixed income will be launched, the company said in a statement.
VCFC was registered in Riyadh earlier this year as a joint venture between Valuable Capital Group Limited and eWTP Arabia Capital.
With this strategic move, both sides will be able to realize their global business plans and expand their influence in the Middle East and North Africa region.
"We have witnessed impressive FinTech innovation and robust capital market growth in the MENA region, especially in the Saudi marketplace, which has great talent and abundant market liquidity," said Jess Cheung, co-founder of Valuable Capital Group Limited.
By delivering diversified and advanced financial solutions, VCFC strengthens the geographical and national influence of the Kingdom, enabling it to maintain its global leadership position.