QInvest Saudi Arabia offers managing, arranging, advising and custody services for a wide range of corporate, institutional and high net worth individual clients. The Saudi entity will play a major role in attracting new investment into the Kingdom while delivering high value services to clients through its business lines: Investment banking, investment management and wealth management.

QInvest Saudi Arabia represents the expansion of QInvest activities, within the GCC region.

QInevest's Chief Executive Officer Shahzad Shahbaz said: "We are delighted to begin a significant period in the evolution of QInvest with the CMA license. Our Saudi operations represent an important milestone in our mission to develop QInvest as a leading global Islamic investment bank. We look forward to work with shareholders and partners to realize this mission."

With a SR50 million paid up capital, Khalil Ghalayini, newly appointed as chief executive officer of QInvest Saudi Arabia, will be focusing on generating business by both attracting new investment and offering Saudi investors opportunities across a range of markets within the region and beyond. His experience in the Kingdom, supported by strong relationships, will underpin significant development of the business.

Ghalayini said: "As we look toward the future, we remain optimistic about market opportunities and the competitive dynamics in the region. We have created a strong platform staffed by a highly talented team to deliver strong business performance in Saudi Arabia.

The establishment of QInvest Saudi Arabia follows the recent establishment of representative office in Turkey, both of which complement its strategic partnership in the UK, the United States and India.