Global GIH Saudi

[sharewadi]

Global-Saudi has received permission from the Saudi financial regulator to start Saudi based operations. So no Global bankruptcy yet then?

Press Release 18 January 2009:

Global Begins Operations in Saudi Arabia Kuwait - Global Investment House (GLOBAL) (GIH) announced today that Global Investment House Saudi Arabia (Global-Saudi) received permission from the Saudi Financial Authority to launch its operations in private placements, M&As, privatizations, advisory services and IPOs to name a few. Global-Saudi has a capital of 50 million Saudi Riyals. Global-Saudi is a full-fledged investment bank with a capital of 50 million Saudi riyals. It carries out various financial services such as the establishment and management of investment funds, portfolio management, international brokerage, private and public placement, underwriting, advisory, dealings as a principal and as an agent as well as custody. Mrs. Maha Al-Ghunaim, Chairperson and Managing Director at Global stated that Global-Saudi aims to play an effective role in the Saudi capital market by introducing new products and services in the Saudi market. She added, “We firmly believe in the importance and necessity of having a direct presence in the Saudi market and to take advantage of this huge economy and capital market which Saudi enjoys, especially since Global has an impressive track-record in placements and corporate finance operations, along with the management and establishment of its 30 investment funds.” She added, “The robust financial structure of the Kingdom still remains very attractive for financial market players worldwide. The increased imports affirm the market’s economic strength and the Kingdom’s privatization plans in various sectors are attractive to investors.” It is worth mentioning that Global-Saudi received approval from the Authority to launch operations in a short period after its establishment in 2007. Additionally, Global-Saudi obtained approval from the Authority to launch three Investment Funds which are the Global GCC Market Fund, Global GCC Equity Fund and Global Saudi Equity Fund (Noor Fund). and is in par with the Islamic Sharia’a. Mrs. Al-Ghunaim reiterated Global’s commitment to provide unique investment services and award winning products to its clients in Saudi and Global’s interest in the Saudi market, and its commitment to provide added value to the Saudi capital market, economy and investors. She concluded that Global will expand its customer base in addition to supporting and developing the infrastructure and the Global team.

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[Bimcnorth]

This thing about GLOBAL gets more and more odd..They have defaulted on their old loans and haven´t been given any new ones.

But it´s business as usual and no one seems to care much?