IMG {cursor: pointer} RIAD, KSA – Media OutReach – 23 October 2022 – Valuable Capital Financial Company (VCFC), a subsidiary of Hong Kong-based premium financial institution Valuable Capital Group Limited, announced that it has received its first licenses from the Capital Market Authority (CMA) to provide trading, advisory and custody services in China to provide Saudi Arabia, making it the very first and only licensed company in the kingdom from Asia.
VCFC said it will provide relevant services once the final license is granted.
The company is committed to providing trading, advisory and asset custodial services to assist and encourage Saudi investors in building global investment portfolios. Other financial services such as wealth management, IPO advisory and fixed income are well planned and expected to be launched shortly after receiving further approval from the CMA.
VCFC, registered in Riyadh earlier this year, is a joint venture between Valuable Capital Group Limited (VCGL) and eWTP Arabia Capital. This strategic move is intended to help both sides further implement their global business strategy and expand their influence in the MENA region.
VCFC’s diversified and progressive initiatives not only deliver synthetic financial solutions, but also strengthen the Kingdom’s geographic and national influence aimed at enabling the country to remain a global leader.
In line with Vision 2030, determined and provided services strive to attract the attention and interest of global investors and stakeholders, and also to fill the gap in the domestic financial market.
“We have seen impressive FinTech innovation and robust capital market growth in the MENA region, particularly in the Saudi market, which has great talent and ample market liquidity,” said Jess Cheung, co-founder of Valuable Capital Group Limited.
Valuable Capital Group Limited is a leading technology-driven financial solutions provider established in Hong Kong, providing comprehensive financial services to over millions of individual, institutional and corporate clients worldwide. Its subsidiary, Valuable Capital Limited, is ranked TOP 2 online broker on HK Stock Exchange by face value in 2020, according to CIC reports. The group is also present in key markets including Hong Kong SAR, Mainland China, the United States, Singapore, Australia and New Zealand.
According to EIU’s report, Saudi Arabia will be the fastest growing of the world’s largest economies in 2022. The kingdom’s financial and trading markets are becoming more popular and trader activity in the country is increasing.
“Saudi Arabia’s financial market has enormous potential with rapid growth. It requires the involvement and involvement of a variety of financial institutions and platforms to fully meet demand. We believe VCFC is ready to bring its proven technology and big data-based service offerings from other markets to the Kingdom and serve the Saudi financial sector together with its local partners,” said Jerry Li, Managing Partner of eWTP Arabia Capital.
eWTP Arabia Capital (“eWTPA”), shareholder of VCFC, is a growth-stage venture fund based in Saudi Arabia and China. It is backed by marquee investors – eWTP Capital and Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF). Through its $400 million Fund I, eWTPA has invested in 16 companies in the digital sector, 13 of which have already successfully established themselves in Saudi Arabia. Investments include the highly successful Saudi Cloud Computing Company, the Kingdom’s leading provider of cloud services, and JNT Express KSA, which is now the country’s fastest growing logistics provider.
The collaboration combines VCGL’s industry-leading financial services with eWTPA’s strong capital base, giving VCFC unique competitive advantages by creating a powerful platform that offers integrated, cross-market, multi-asset investment services and contributes to the Kingdom’s Vision 2030 FinTech strategy.
Hashtag: #ValuableCapitalFinancial Company
The issuer is solely responsible for the content of this announcement.
