Alistithmar for Financial Securities and Brokerage Company (Alistithmar Capital) is a Saudi closed joint stock company with a paid up capital of SR 250 Million, 100% owned subsidiary of The Saudi Investment Bank.
Alistithmar Capital was granted its initial license by the Capital Market Authority (CMA) on 16/05/1428(H) corresponding to 2nd of June 2007(G) (License No. 07061-15), Formally established and registered by the Saudi Arabian Ministry of Commerce and Industry on 08/07/1428(H) corresponding to 22nd of July 2007(G) (Commercial Registration number: 1010235995). The Commencement date of the company business was on 22/12/1428(H) corresponding to 1st January 2008(G).
The date of obtaining the revised license was on 27/10/1432(H) corresponding to 25th of September 2011(G) (License No. 11156-37), after Alistithmar Capital acquired on SAIB BNP Paribas Asset Management
ICAP is licensed by the Capital Market Authority (CMA) (License No. 11156-37) to offer the following services:
- Dealing as Principal, Agent and Underwriter
- Managing Investment Funds
- Managing Discretionary and Non-Discretionary Portfolios
To see our Organizational Structure please Click here
Integrity, sustainable performance, and personalized customer service are the key ingredients to our success. ICAP’s main focus has always been delivering Value through Innovative solutions to our clients by utilizing our team’s diversified investment Knowledge and expertise.
ICAP has always ensured its long-term commitment to its clients and assumed an ethical, managed-risk and cognizant approach to investment decisions while managing and handling investors’ funds. This trusted investment approach has also ensured value creation for our clients over the long run.
Our team is among the most respected and thought leaders in the investment management services, providing views and analysis across different asset classes, policies and economies in our local and regional markets. We refrain from getting carried away by short-term, irrational market volatility. Our goal has always been exceeding our clients’ expectations through delivering outstanding performance.
We are committed to our Value Investing Philosophy. Our definition of value is not limited to acquiring underpriced assets, but to also discover internal and/or external catalysts that will minimize the gap between the asset’s price and its intrinsic value. Our investing philosophy and disciplined investment process have always been our guiding principles to delivering consistent value to our clients.
Our willingness to serve each and every client with peculiar attention has been the reason behind the long-term associations that we have maintained with our clients. All our clients have direct access to our senior management, and we do not refrain from addressing their account services’ needs, no matter how elementary.
Our Values and Goals
While we aim to grow our business, our prime objective is to create value for our customers through our thinking and functioning. We strongly believe that our uncompromising stance on our values has helped us strengthen our relationship with our clients.
We conduct our business fairly, with honesty and transparency.
We constantly strive to achieve the highest possible standards of delivery in our day-to-day work and in the quality of the services we provide.
We work to deliver the best possible solutions and services to our customers, always putting their interests first in any business decisions.
Abdullah Al Zaben
Chairman -IndependentMr. Abdullah Al-Zaben is the chairman of Alistithmar Capital since 2015. He works for Sultan Bin Abdul Aziz Program for Medical and Educational Telecommunication as Director General. He has work experience of more than 35 years concentrated in economics, finance, investments and general management across many companies like; The Saudi Fund for Development, The Arab Investment Company and Sultan Bin Abdul Aziz Al-Saud Foundation . Mr. Al-Zaben has a Masters degree in Economy - Finance from Alabama University, USA and a Bachelors degree in Economy from King Saud University.
Badr Al Aswad
Board member-Non IndependentMr. Badr Al Aswad is the General Manager for Quality Assurance in Saudi Investment Bank since 2013, responsible to oversee the bank’s Customer advocacy and awareness, customer care, voice of Customer, mystery shopping, Operational excellence and Quality research. He has work experience of more than 20 years concentrated in Operation, Electronic Banking & ATM, Alternative Channels, customer services and quality profession working for Saudi Hollandi Bank and Saudi Investment Bank. Mr. Al Aswad holds a bachelor degree in Accounting from King Saud University in 1993.
Hammad Al Belaihid
Board member- IndependentMr. Hammad Al Belaihid has work experience of more than 26 years as a business development professional with a phenomenal track record in strategic sales, marketing & product development for major business organizations like; Gulf Trading Holding Company (Alrifai), Modern Electronics Est. (Hewlett-Packard Division – Part of Al Faisaliah Group), AlKalam International Company (Part of Fawaz Alhokair Group), Al Falak Electronics Equipment’s & Supplies, among other organizations. Mr. Al Belaihid holds an executive MBA in Business Administration from The University of Michigan, USA in 1999 and a bachelor degree in Architectural Engineering from Bluefield City College, USA in 1987.
Faisal Al Omran
Board member-Non IndependentMr. Faisal Al Omran is the Treasurer and Chief Investment Officer of Saudi Investment Bank since 2015. He has work experience of more than 12 years covering treasury, investment and corporate finance. Mr. Al Omran holds a bachelor degree in accounting and finance bachelor degree with honors from North Eastern University, Boston, USA.
Raad Al Barakati
Board member-Non IndependentMr. Raad Al Barakati is the Head of Corporate Banking Central Region in Saudi Investment Bank since 2015. He has vast experience of more than 20 years concentrated in finance, credit, risk and corporate banking profession working for many reputable Saudi and GCC institutions like Samba Financial Group, Banque Saudi Fransi, Gulf Investment House and SAIB. Mr. Al Barakati holds a Bachelor of Science degree in Industrial Systems Engineering from King Saud University, Riyadh in 1997.
Jamal Al Thukair
Board member-Non IndependentMr. Jamal Al Thukair is the Regional General Manager at The Saudi Investment Bank since 1992. He has vast experience in banking industry of more than 32 years working for SAIB and Riyad Bank. He is currently responsible for managing the region’s branches (Eastern Region) of SAIB. Mr. Al Thukair holds a Bachelor of Science degree in Business Management from USA.
Chief Executive OfficerHesham Abou Jamee joined Alistithmar Capital in 2012. He has over 24 years of experience in the financial sector. Prior to joining Alistithmar Capital he worked with Bakheet Investment Group starting as a Financial Analyst moving up to Head of Asset Management position and ending his tenure with Bakheet as Chief Executive Officer. Hesham is a pioneer in the Saudi financial market often appearing on several media outlets sharing his knowledge and insights of the market. Hesham’s dedication and inspiring leadership along with the board’s strategic views and directions has steered Alistithmar Capital towards exponential growth. He holds a Bachelors degree in Administrative Science majoring in Quantitative Methods from King Saud University.
Assistant General Manager - Real EstateKhaled joined Alistithmar Capital in 2014 and is the Assistant General Manager Real Estate. His role is to manage the Real Estate funds and oversee the Marketing Department. He holds an Architecture honors degree from King Fahd University of Petroleum and Minerals and a Certified Professional Engineer by the Saudi Council of Engineers. With over 16 years of diverse experience, Khaled worked for many local and multinational companies like SAMBA, Bank AlJazirah, Capital Market Authority, Bakheet Investment Group, KSB Capital Group, Sogouf Real Estate, Inmaia Real Estate and others in various roles covering but not limited to Construction, Accounting & Finance, Sales & Marketing, Real Estate Development, Real Estate Investment Funds, Operations and Project Management. Khaled was the CEO of Sogouf Real Estate and a BOD member in Bakheet Saudi Trading Equity fund and Taibah KSB Real Estate Fund. Currently, he is serving as a BOD member in many equity, money market and real estate funds.
Group Head of Brokerage & Margin LendingHisham is the Group Head of Brokerage & Margin Lending at Alistithmar Capital. He joined Alistithmar capital in 2008 and has over 15 years of experience in financial planning & control, business planning & management, financial analysis, credit management and securities management. Hisham was involved in establishing Alistithmar Capital after its spin-off from the Saudi Investment Bank in 2007 and has held several key positions at Alistithmar Capital particularly in establishing both the Finance and Margin Lending departments. He is responsible for managing both the brokerage and the margin lending departments, providing services in the local securities market, selected international securities markets, Murabaha financing and overdraft facilities. Prior to joining Alistithmar capital, Hisham was associated with the Saudi Investment Bank. He holds a Bachelor’s Degree in Accounting from King Saud University
Chief Investment OfficerFadi is the Chief Investment Officer at Al Istithmar Capital, managing the asset management team that over sees the management of public funds and private mandates that range from money markets, equities, fixed income etc. Previously he was the Head of Asset Management at Al Bilad Capital for four years, and prior to that he was managing the asset management for Shuaa Capital Saudi Arabia and was the Business development Manager at Saudi Hollandi Capital. He has more than 18 years of experience in the financial sector and has launched 9 public funds in the Saudi Market, two Real Estate funds and managed several private mandates. He attained a Certified Financial Advisers (CEFA) from UK Chartered Institute of Bankers, and holds an International Diploma in Financial Services, a Chartered Portfolio Manager and a Certified Wealth Manager from the AAFM. He holds a Bachelor degree in Management and Finance from the University of Bahrain.
Group Head of SupportJaber is the Group Head Support at Alistithmar Capital. He is responsible for the Brokerage and Asset Management operations, and also manages the Custody Services in Alistithmar Capital. He has over 17 years’ experience in Treasury and Investment operations. He joined SAIB in 2002 as Treasury/Investment Operation Assistant Manager, and then moved to ICAP in 2008 as Head of Operation. Before joining SAIB, Jaber worked in Saudi Hollandi Bank for more than 3 years as Operation officer in areas EBD, Corporate Payroll and SAMA Settlements. Jaber has vast experience in the industry and has been a key player in implementing several strategic projects in Alistithmar Capital related to Brokerage system, Asset management system, IPOs, Spin off and M&A. He holds a bachelor degree in Business Administration.
Acting Group Head of Human Capital ManagementMohammed is a professional with over 10 years of experience, most of which were in the banking and investment sectors. He worked in major financial institutions in Saudi Arabia, with specialization in managing the Human Resources, MIS and expense control. In 2015, Mohammed joined ICAP as the Human Capital Operations Manager and now is the Acting Head of Human Capital Management Group, where he has been working to transform the human capital discipline and adopt best practices to empower and engage employees at all levels. Mohammed has a Bachelor of Business Administration with second honor degree from King Faisal University.
Head of Compliance & AML/CTFAbdul Malek is overseeing the compliance, AML/CTF and Corporate Governance areas at Alistithmar Capital. He Joined ICAP in 2013 and has more than 10 years of experience in Compliance, AML/CTF, Operational Risk and Corporate Governance in Banking and Asset Management industries. Prior to joining Alistithmar Capital, he worked for Emerging Markets Payments Holding “EMPH” as Group Compliance Manager for Middle East, Levant and Africa Regions. Abdulmalek holds a BA in Accounting from University of Jordan, also he has the following Professional Certificates; Certified Anti Money Laundering Specialist (CAMS) – USA, Certified Compliance Officer (CCO) – USA, Certified Compliance Professional (CCP) – USA, Project Management Professional (PMP) – USA and Advanced Certificate in Compliance & Advanced Certificate in AML/CTF – UK.
Group Head of FinanceZahoor is the Group Head Finance at Alistithmar Capital. He joined Alistithmar in January 2012. He has over 20 years of experience concentrated in finance and accountancy. Prior to joining Alistithmar Capital, he was associated with SAIB BNP Paribas Asset Management as Chief Financial Officer in KSA, PICIC Asset Management Company Limited as Chief Financial Officer & Company Secretary in Pakistan. Before that, he was associated with Pak Asian Fund Limited & Pakistan Venture Capital Limited as Finance Manager in Pakistan. Zahoor is a Chartered Accountant and Cost & Management Accountant from Pakistan and currently holds fellow membership of Institute of Chartered Accountants of Pakistan and Institute of Cost & Management Accountants of Pakistan.
Head of Quality AssuranceMusaed joined Alistithmar Capital in 2015 as Head of Sales and now he has been assigned as the Head of Quality Assurance. He has over 18 years working experience in different companies in USA and Saudi Arabia, such as: CalBay Financial Inc., Bakheet Investment Group, Riyad Capital and Swicorp. During his extensive career, he covered multi roles that include:Real Estate and Mortgage in the United States, Wealth Management, Sales & Marketing, Brokerage and Asset Management, process and efficiency improving, and quality assurance. Musaed holds a Bachelor’s Degree in Computer Science and a Master’s Degree in Business Administration from University of the Pacific in California. He is also a Certified Portfolio Manager (CPM) and a Chartered Wealth Manager (CWM).
Head of RiskSethuraman is the Head of Risk at Alistithmar Capital. He is responsible for the management and control of market, credit and operational risk exposures arising through all business activities. In addition, within the broad scope of Risk Management, he is also responsible for the Credit Administration and Information Security functions of ICAP from an overall risk control perspective. He has over 11 years of experience working for the Financial Services sector across Sri Lanka, India and Middle East in various roles covering but not limited to Accounting & Finance, Business Analytics, Product Development, Investment Research & Fund Management and Risk Management. He has been with the company since November 2007 and his previous roles within the company include being a part of the Investment Management team managing GCC equity funds and portfolios in addition to performing investment research coverage of the GCC markets. He is a Fellow Member of Chartered Certified Accountants body of UK (FCCA) and also a CFA Charter-holder. He holds a First Class Honors in BSc in Applied Accounting from the University of Oxford Brookes, UK and is also a Certified Financial Risk Manager (FRM) from the Global Association of Risk Professionals (GARP-USA).
Head of Internal AuditAli joined SAIB BNP Paribas Asset Management Company (which was then merged with Alistithmar Capital) in 2011 and is now the Head of Internal Audit. Ali plays a critical role in delivering the organization’s strategy by objectively assessing the adequacy of governance, risk management and internal control system. With over 16 years of experience, he has previously established Internal Audit divisions in entities at country and regional level. During this period, he held several positions, viz., Regional Head of Audit - East Africa & Head of Internal Audit, Pakistan for agencies within the Aga Khan Development Network headquartered in Geneva, and Deputy Head of Audit for Telenor Microfinance Bank, Pakistan. Ali has also worked as external auditor with Ernst & Young (EY) in Pakistan for over 4 years, specializing financial institution audits. Being trained in corporate strategy including KPIs and Balanced Scorecards, Ali ensures alignment and infusion of internal control processes into strategy development and monitoring models. Ali is a Chartered Certified Accountant (ACCA) from UK and a Certified Internal Auditor by the Institute of Internal Auditors, US. He also holds an MBA in Finance and Bachelors in Commerce from Pakistan.
Head of ITAmit joined ICAP in May 2016 as Head of IT. He is responsible for the functioning and high availability of systems used by Brokerage, Asset Management, Corporate Finance and Real Estate groups within ICAP. He also fulfils strategic needs of business groups by translating the technology requirements into well executed projects. Amit’s duties include leveraging technology to improve efficiency, effectiveness and growth and enforcing sound IT processes within laid out information security policies and compliance framework. He carries over 25 years of extensive cross-functional experience with companies delivering IT strategy, sales, products and services within the Financial Services sector in S.E. Asia & MEA geographies. He holds a Bachelor of Science (Engineering) degree in Electronics and Communication from India.
Head of Customer ServiceYasser joined Alistithmar Capital in 2013 bringing with him extensive experience in Customer Service, Relationship Management and Quality Assurance at renowned banks across Saudi Arabia since the year 2000. His role is to plan and ensure delivery of high-quality customer experience, elevating customer satisfaction and providing seamless service to existing and prospective ICAP customers, besides managing account opening operations and sales MIS. Yasser holds a Bachelor’s Degree in History from King Khaled University and Diploma in computer at Ministry of education and corporation with Al-Alamiyah institution.
Senior Manager Advisory and ResearchKhaled joined Alistithmar Capital in July 201. He is responsible for representing ICAP in the media, write, supervise publish detailed reports, updates, provide reliable recommendations and enhance the image of ICAP. Khalid’s has an extensive experience that includes local and international experience in the banking industry, in the investment collective scheme in both sides of the business, and regulation. Before joining ICAP, Khaled worked at Saudi Kuwaiti Finance House (SKFH), Bakheet Investment Group (BIG), The Capital Market Authority of Saudi Arabia (CMA) and London Stock Exchange. He earned Best Public Equity IPO Fund Award in the Kingdom of Saudi Arabia for 2015 from Global Banking and Finance Review and led SKFH investment team to achieve the Best Wealth Management Provider Award in the Kingdom of Saudi Arabia for 2015 from World Finance. Khaled holds a master of Business Administration (MBA, Finance), pre-MSc in Business from Cass Business School and bachelor in Financial Management. He is also a Certified as Chartered Marketing Consultant (CMC) and a member of the Saudi Management Association (SMA) since 2003.
Alistithmar Capital provides its customers with specially tailored Islamic Investment products that are approved by our Shariah Board. A number of Shariah Compliant Funds: Murabaha (money market), equity and structured products are available to our clients to select from based on their risk appetite and investment objectives.
The Shariah Board of Alistithmar Capital is composed of the following renowned scholars.
Sheikh Abdullah Al Maniea (Chairman)
- Member of the Supreme Judiciary Committee of Saudi Arabia
- Member of the Islamic Fiqh Academy, Jeddah
- Former Deputy President of Makkah Courts
- Advisor to several Islamic financial institutions and author of various books on Islamic banking
Sheikh Dr. Mohammed A. Elgari (Member)
- Associate Professor and Former Director of the Center for Research in Islamic Economics at King Abdul Aziz University
- Expert at the Islamic Fiqh Academy, Jeddah
- Editor of the Review of Islamic Economic and Shariah
- Advisor to HSBC – Amanah Finance
- Advisor to several Islamic institutions and author of various books on Islamic banking
Audited Financial Statements:
Pillar III Disclosures Report:
Investment of ICAP in Mutual Funds: