Muscat: Ahli Bank, further to its foray into investment banking services, is expanding its service offering with new licences obtained from the Capital Market Authority (CMA). The new activities are Portfolio Management, Fund Management, Issue Management and Issuer of Structured Instruments. The above activities will be in addition to the existing licences to provide brokerage and investment advisory services.
Thanking CMA for its approval, the Chief Executive Officer, Abdulaziz Al Balushi said, "On our 5th anniversary, we are happy to launch our full-suite investment banking services offering. Subject to necessary regulatory approvals, we are planning to offer asset management services spanning Discretionary Portfolio Management (DPM), Sharia compliant Mutual Funds and Innovative Investment Instruments. Our Group presence across GCC and Mena region give us a great advantage and synergy in encashing opportunities across the region for the benefit of our investors."
CB Ganesh, Dy CEO added, "With the announcement of a growth oriented budget by the Govt of Sultanate, we see a great opportunity for investment banking in the country. With our track record in commercial banking along with our well experienced and talented team, we are confident of exceeding our client's expectations in meeting their investment banking requirements.
The bank which has a fully-fledged commercial banking operation is awaiting final approval to commence its Islamic Banking operations.