Falcom, Sedco sign strategic partnership

30/06/2014 06:29 AST

Falcom Financial Services and Sedco Capital signed a strategic partnership agreement in Riyadh, whereby Sedco Capital will manage the investment portfolio of Falcom Arab Markets registered at the Capital Market Authority. Established in 2005 with a paid capital exceeding SR1 billion, Falcom Financial Services is one of the leading companies licensed by Saudi Capital Market Authority.

Hasan Al-Jabri, Chief Executive Officer of Sedco Capital, said "We look for the best investment opportunities for our clients. Our partnership with Falcom Arab Markets is an opportunity to work with one of the leading investment companies in Saudi Arabia. We will build on our expertise in fund management and our team's capabilities in Arab and Gulf markets' shares management to culminate the success of the Fund. Our commitment and belief in Arab markets, our partnership with Falcom, and our comprehensive study of the Fund have given us confidence in our capacity to successfully and effectively undertake its management."

On the importance of this strategic partnership, Adib bin Abdulrahman Al-Suwailem, Chief Executive Officer of Falcom, said "Sedco Capital has earned our confidence thanks to its extensive experience in fund management and outreach to local, Arab, and international markets. We look forward to Sedco's management of our Arab markets Fund investment portfolio. We believe that closer cooperation between companies and Islamic investment funds creates high-income generating funds and long-term growth of capital funds, especially when run by the best, highly experienced managers and professionals."

Yazin Abideen, Director of Investment Funds at Sedco Capital, will manage Falcom Arab Markets Fund.

Yazin said "our agreement to manage Falcom Arab Markets Fund is a positive step to promote the position of Sedco Capital as a strategic partner in investment management locally, regionally, and internationally.

Saudi Gazette