Riyadh – Mubasher: Nitaq Capital Company has received on 23 November the Saudi Capital Market Authority’s (CMA) approval to conduct managing investments and advisory activities in the securities business.

The CMA also noted that Nitaq Capital has completed all business commencements’ requirements, according to a bourse filing on Tuesday.

The company is designated to be an investment house catering to Saudi institutions and family offices, CEO of Nitaq Capital, Saleh Alhenaki, said in a separate statement.

“Nitaq Capital was formed in direct response to a conjunction of needs we witnessed emerging in recent years,” Alhenaki noted.