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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

U Capital begins its operations

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MUSCAT: U Capital’s inauguration was held on March 20, 2017 in Shatti Al Qurum at OMINVEST building at 7:30 pm. The event was held under the auspices of Yahya al Jabri — Chairman, Special Economic Zone Authority Duqm (SEZAD). The honourable guests included: Hamood bin Sangour al Zadjali, Executive President, Central Bank of Oman; Abdullah bin Salim al Salmi, Executive President, Capital Market Authority; Ahmed bin Saleh al Marhoon, Director-General, Muscat Securities Market, Stefano Lazzarotto, Switzerland Ambassador, Zuhair Abdullah al Nsour, Jordanian Ambassador and Ahmad Abbas Ramadan Palestine Ambassador. In addition, the highly respectable attendees included Dignitaries, Government Officials, Diplomats, Business Leaders and Senior Executives and Employees of OMINVEST, Arab Bank (Switzerland), Ltd, OIF and U Capital.


U Capital was incorporated in November 2016 by OMINVEST with a 36 per cent ownership, Arab Bank (Switzerland) Ltd, 34 per cent and Oman Investment Fund (OIF) 30 per cent. Soon after its formation in December 2016, U Capital acquired Oman Arab Bank’s Investment Banking Business (“OABINVEST”), which had a long-standing track record spanning two decades in Oman. U Capital is already operational and commenced its business activities at its new office in OMINVEST building. U Capital’s major business divisions include: Corporate Finance, Asset Management, Brokerage and Custody Services — covering local & regional markets.


The Shareholders of U Capital intend to grow this platform to create employment opportunities for Omani nationals, help finance new ventures and create value for all stakeholders. The envisioned business expansion, new resources and capabilities are expected to make U Capital one of the largest and finest investment banking platforms in the region.


Shaikh Hassan al Nabhani, Chairman of U Capital highlighted in his speech that the acquisition of OABINVEST was a major step towards realising their vision of creating a premier asset management company out of Oman — with global reach and capabilities. He said that U Capital will cater to the investment needs of major institutional investors, while operating as a platform for attracting foreign investments into Oman.


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