Three firms team up to establish an Arab financial brokerage company

DUBAI — Aman Securities, a subsidiary of United Arab Investors Company (UAIC) of Jordan, announced yesterday that it has signed an agreement with Al Mal Capital — Dubai, a UAE investment company and Osool Securities, a brokerage company in Jordan, to establish the largest Arab financial brokerage company with a capital of JD60 million (equivalent to Dh313.2 million).

By Staff Reporter

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Published: Thu 15 Jun 2006, 10:33 AM

Last updated: Sat 4 Apr 2015, 3:24 PM

The new company, dubbed Al Mal Securities, will be a public shareholding company operating from its headquarter office in Amman, Jordan. Its establishment comes into effect after the merging of the two Jordanian companies Aman and Osool and the entering of Al Mal Capital as a strategic partner. Al Mal Securities will own a share in Al Mal Capital in UAE and Saudi Arabia to facilitate expanding the company's activities and regional expansion plans and pave the way for more cooperation and partnerships in Arab stock markets.

The agreement was signed in Dubai preceding a Press conference by Younis Al Qawasmi, Chairman of the Board of Aman Securities, Naser Nabulsi, Executive Chairman of Al Mal Capital-Dubai, and Hatem Al Shahid, Chief Executive Officer of Osool Securities. The ceremony was attended by Dr. Fayez Tarawneh, Chairman of the Board of UAIC and Haitham Dahleh, Deputy Chairman the Board of Osool Securities, along with a number of representatives of Dubai's economic sectors.

As a market maker, Al Mal Securities is set to play a major role in the Jordanian stock market by offering world-class financial services as well as contribute to moving Jordanian public shareholding companies from the local to the regional markets.

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