Prudential and Bank AlJazira form Saudi fund JV
The JV has received regulatory approval. The two parties are also moving forward with a joint venture in Islamic insurance, known as a takaful.
Prudential Asset Management, the Asian arm of UK insurer Prudential Plc, and Bank AlJazira have received regulatory approval to set up a fund management joint venture in Saudi Arabia. The new company, Jedda-based Prudential Jazira Asset Management, has been authorised by Saudi ArabiaÆs Capital Market Authority to manage, advise and undertake custody services in the securities business. A spokesman for Prudential Asset Management could not immediately disclose the initial capital of th…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.