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Arbah Global Gulf and Asian Partners Sign Shareholders Agreement for Creation of Arbah Capital Asia
On Saturday July 20th, Arbah Global Gulf (a subsidiary of Arbah Capital), along with six companies from China and South Korea, signed a Shareholders Agreement heralding in the creation of Arbah Capital Asia.
By: Arbah Capital
Arbah Capital Asia is a newly formed joint venture between Arbah Global Gulf and its partners in the Far East, including Chinese firms Shanghai International Asset Management (HK); LottVision; Philip KH Wong, Kennedy YH Wong & Co.; Calypso Capital; and South Korean firms Goodmorning Shinhan and Sejong Investment Management. The participants from Asia were in Arbah Capital’s head office in Dammam, Saudi Arabia for a two-day session to lay the groundwork for establishing the new venture. Arbah Capital Asia will be based in Bahrain and serve as the primary vehicle for agreements and deals brokered by Arbah Global Gulf and its Asian partners, thus continuing a burgeoning relationship between companies based in the Gulf and Far East.
There has been a strategic underlying shift for Gulf investors as they now seek to form affiliations with firms and investors from developing parts of the world, including Asia. Today South Korea is among the ten largest trading partners of Saudi Arabia and this new direction is also highlighted by the visit of The Custodian of the Two Holy Mosques King Abdullah to Beijing in 2006, when he became the first Saudi king to officially visit the Chinese capital.
Arbah Capital CEO Saad Al Hassosah, who hosted the two-day event, expressed his appreciation and optimism for a new chapter in Gulf-Asian relations. “This agreement signals that investors in the Gulf are now serious to form partnerships with investors from all parts of the world and beyond the traditional centers such as North America and Europe. Asia in particular will become a center of gravity of worldwide trade and we are delighted to have signed this agreement with our partners from China and South Korea.”
Front Row: C J Kim of Sejong Investment Management; Michael Kim of Goodmorning Shinhan; Sheridan Yen of LottVision; Dhafer Alqahtani, CEO of Arbah Global Gulf; Kennedy Wong of Philip KH Wong, Kennedy YH Wong & Co.; Jim Wang of Shanghai International Asset Management (HK); and Mike Stockford of Calypso Capital.
Back Row: Arbah Capital shareholders Abdulla Al Nabit; Hussein Al Nemer; Saleh Al Afaleq; Abdulaziz Al Qahtani; Sheikh Adel Al-Muammar; Abdullah Almajdouie; Mohammad Al-Ansari; and CEO Saad Al Hassosah.
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Arbah Capital is a licensed Islamic Wealth Management (IWM) firm based in the Eastern Province of the Kingdom of Saudi Arabia. It is the first IWM firm created in the Kingdom and the first to adhere to GIPS. Visit www.arbahcapital.com.