To follow the market trend you require the latest market information. Our market news provides you with up to date information as to what obtains in every market.
[2008-06-23] CMA issues business licence to Derayah Discuss
The Saudi Capital Markets Authority (CMA) has granted a securities business licence to Derayah Financial Corporation to operate as an agent, by offering management services, advisory and custody services in securities.
According to information made available to Khaleej Times here on Thursday, the new company is headed by co-founder and managing director Taha Al-Kuwaiz, who was previously deputy general manager at National Commercial Bank (NCB) and director of banking technology at the Saudi Arabian Monetary Authority (SAMA).
Another co-founder is Hashem Al-Heikal who comes on board as the chief financial officer. His previous roles include stints at NCB as head of IT business systems development and manager of the computer department at SAMA.
Mohammed El-Kuwaiz, who is also a partner and co-founder, was previously a consultant at McKinsey & Company and a senior manager at Samba Financial Group.
