• Region
    • Pakistan
    • UAE
    • Saudi Arabia
    • Qatar
    • Bahrain
    • Oman
    • Kuwait
  • About
  • Press Kit
  • Media Pack
  • Contact
Friday, July 4, 2025
CEO Times
No Result
View All Result
Subscribe
  • Login
  • Home
  • Business News
  • Startup News
  • Opinion
  • Lifestyle
  • MagazineSEP 2024
  • Databank
  • Podcasts
  • Connect
  • Home
  • Business News
  • Startup News
  • Opinion
  • Lifestyle
  • MagazineSEP 2024
  • Databank
  • Podcasts
  • Connect
CEO Times
No Result
View All Result
Home Sector Banking & Finance

Gulf Bank receives regulatory nod for Gulf Capital Investment Company launch

20 November 2023
in Banking & Finance
Reading Time: 3 mins read
0
Gulf Bank of Kuwait

Gulf Bank has successfully obtained regulatory approvals, including the Capital Markets Authority’s (CMA) go-ahead, for the establishment of Gulf Capital Investment Company. Operating as a closed joint stock enterprise specializing in securities activities, it now functions as the fully owned investment arm of Gulf Bank, with an established capital of KD 10 million.

Having secured authorizations from the Central Bank of Kuwait and the Ministry of Commerce and Industry, Gulf Bank’s subsidiary, Gulf Capital Investment Company (Invest GB), is now officially licensed by the CMA. This regulatory green light enables Invest GB to engage in a spectrum of securities activities, serving as an investment portfolio manager, investment advisor, custodian, investment controller, collective investment scheme manager, subscription agent, and securities broker not registered in the stock exchange. The license is valid for a specified duration from the date of issuance by the Capital Markets Authority.

Mr. Jassim Mustafa Boodai, Chairman of Gulf Bank, expressed his delight at the official launch of Gulf Investment Company after the successful completion of all regulatory milestones. He highlighted the company’s entry into operations with a comprehensive range of investment services catering to customer aspirations in both local and international markets. Mr. Boodai commended the expertise and professionalism of the distinguished team leading the company.

Underlining the new company’s commencement with assets exceeding one billion Kuwaiti dinars (approximately 3.2 billion US dollars), Mr. Boodai emphasized that all investment services and products previously provided by the bank now fall under the purview of the newly established investment arm.

Acknowledging the cooperation of regulatory authorities, Mr. Boodai extended his gratitude to the Central Bank of Kuwait, the Ministry of Commerce and Industry, and the Capital Markets Authority for their support in securing the necessary approvals for the company’s launch.

Mr. Waleed Khaled Mandani, Acting CEO of Gulf Bank and Chairman of Gulf Capital Investment Company, highlighted the new company’s role in strengthening Gulf Bank’s pivotal position in activating the local capital market. He emphasized the commitment to offering distinguished investment opportunities, expanding the investor base, and providing thoughtful and diversified investment options to achieve optimal returns with minimal risks.

Mr. Mandani emphasized Gulf Bank’s meticulous approach to human resource selection for Gulf Investment Company, adhering to standardized criteria to ensure competitive efficiency on local, regional, and global scales. More than 70% of the company’s workforce comprises national talent, demonstrating a substantial “Kuwaitization” rate in the Kuwaiti investment sector. The representation of women among the entire company staff is at 40%, aligning with Gulf Bank’s strategic emphasis on job localization and women’s empowerment.

As of the end of September 2023, Gulf Bank stands as one of Kuwait’s leading banks, with total assets amounting to KD 7 billion and an “A” rating from the three major credit rating agencies.

Continuing its commitment to innovation, Gulf Bank offers pioneering investment solutions to customers, including WISE, the first digital investment platform in the Kuwaiti market. This platform provides customers with excellent investment opportunities in various international markets, ensuring easy access and performance tracking from anywhere and at any time.

Related Posts

MCB Bank

M Nauman Chughtai Appointed as President & CEO of MCB Bank Limited

16 December 2024
UBL

UBL Board Approves Merger with Silkbank via Share Swap Arrangement

5 December 2024
Netsol

NetSol Technologies to Sell 2 Million Treasury Shares Under Employee Share Option Scheme

26 November 2024
Pakistan Stock Exchange (PSX)

Pakistan Stock Exchange Appoints Farrukh H. Sabzwari as New CEO

7 November 2024
Next Post
Hani Al Awadhi

CMA approves Hani Al Awadhi as CEO of Gulf Capital Investment Company

Copyright © 2024 CEO Times (SMC-Private) Limited

  • Privacy Policy
  • Terms & Conditions
  • Sitemap

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business News
  • Startup News
  • Opinion
  • Lifestyle
  • Magazine
  • Podcasts
  • About
  • Contact
  • Media Pack

Copyright © 2024 CEO TIMES (SMC-Private) Limited