Dubai - Mubasher: Shuaa Capital and National Bonds signed a memorandum of understanding (MoU) to create a joint venture (JV) in Saudi Arabia and inject investments into the kingdom.

The collaboration between the financial service firm National Bonds and an investment company as big as Shuaa is aimed at addressing the demand for investment and savings solutions in Saudi Arabia, according to a company statement released on Sunday.

“In partnership with SHUAA Capital, National Bonds is delighted to announce our expansion in Saudi Arabia,” National Bonds Corporation’s CEO Mohammed Qasim Al Ali commented.  

Both parties are in talks with Saudi regulators for the launch of the JV's operations in the second half of this year.

“Over the past ten years, SHUAA has embedded itself well in the Kingdom as an Investment and Fund Manager, creating a network of relationships and affiliations, and delivering returns for our shareholders,” Shuaa Capital Fawad Tariq-Khan’s CEO said.