Ministry of Commerce approved the Incorporation of Al-Riyada Finance with KD 15 Million Capital
Saturday, July 26, 2008

The Ministry of Commerce and Industry has approved the incorporation of Al-Riyada Finance Co. with a KD 15 Million capital in which Shuwiekh Gate Real estate Co. share approximates 40% while remaining shares belong to other shareholders. The new company operates based on Sharia regulations and conducts the following activities: invests in real estate, industrial and cultural sectors, participates in the incorporation of specialized companies or the purchase of shares and bonds of such companies in various sectors, manages funds of public and private institutions, invests funds in various economic sectors including management of financial and real estate portfolios, conducts brokerage activities, acts as an issuance manager of bonds and Sukuks issued by companies and authorities and act as an investment trustee.