IdealRatings and Alinma Investment Partner to Offer Shariah Brokerage Services in Saudi Arabia
San Francisco, USA – Riyadh, Saudi Arabia Aug 19th, 2013.
IdealRatings a leading Islamic finance service provider is proud to announce its partnership with Alinma Investment, Licensed by the Capital Market Authority (CMA) No.09134-37one of the largest Islamic financial institution across the GCC to offer a suite of global Shariah brokerage solutions to Alinma Investment clients. The multifaceted strategic partnership that combines the global scale and reach of IdealRatings with Alinma Investment to offer the customers unprecedented access to the global capital markets along with access to a group of Shariah specific value added services such as compliance examination, and IdealRatings unique purification calculation tool.
Alinma Investment and IdealRatings intend to jointly create market leading Shariah brokerage solutions designed to offer retail and institutions client’s unrivalled access to the global capital markets. As each company would focus on its core competencies, the partnership would create the opportunity for a new industry standard in the Shariah brokerage field. Additionally Alinma Investment and IdealRatings worked together to create a completely new service offering of technical analysis recommendations for the Saudi and GCC markets extending the established products and services to clients in the served markets
“Demand for Shariah compliant trading has been growing tremendously in Saudi Arabia over the past few years, but it remains a challenge for many brokerage houses to assess how effectively Shariah compliance are taken into account while investing” said Salah Bahkli, Head Brokerage at Alinma Investment.
Saud AbdulRahman Alghonem, action CEO of Alinma Investment, said: “The launch of our global Shariah brokerage offering is the latest in a broad range of Shariah specific service we are committed to offer our clients as part of Alinma Investment strategy in growing the Shariah compliance investment industry. IdealRatings has been a key player in helping Alinma Investment create new innovative Shariah compliant products and here comes another time where we depend on IdealRatings in providing us with the needed data and solutions”
Mohamed Donia, CEO of IdealRatings “I’m enthusiastic about this partnership as the Shariah brokerage industry will thrive when fueled by the innovation of such revolutionary team at Alinma Investment that is highly demanded by the market. We are looking forward to work together in releasing more groundbreaking products that can help growing the industry “
Alinma Investment brokerage solution is currently available to all users interested in receiving access to the additional Shariah value added services through Alinma Investment platform.