JEDDAH — The first centre of Jadwa Investment Company was launched by Dr Abdul Rahman Al Tuwaijri, Chairman of the Capital Market Authority (CMA), in Riyadh recently, in the presence of Prince Faisal bin Salman, Chairman of the Saudi Research & Marketing Group (SRMG) and Chairman of Jadwa.
The opening ceremony was attended by Shaikh Abdullah Al Mutlaq, a member of the Council of Senior Islamic Scholars and head of Jadwa's Shariah Committee, and its board members and several businessmen.
The CMA issued a licence to the SR500 million Jadwa Investment Company in August last year to carry out activities such as investment, management and advising in accordance with CMA regulations.
Al Tuwaijri said at a Press conference that the CMA had licenced more than 45 banking and investment companies. He added that some of them have already started operation. He hoped that the new companies would provide excellent services to their clients in the capital market.
"The competition among these companies to provide better services will have a positive impact on the market," he said.
Prince Faisal bin Salman appreciated CMA's continuous efforts for the development of the capital market in order to boost the national economy, improve business environment and protect the interests of investors