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RANA awarded license by CMA to offer investment banking services

Saudi Arabia: Monday, May 29 - 2006 @ 10:59

RANA has been successfully managing financial assets on behalf of clients in local, regional and international markets for more than 20 years. Over the course of the coming months the company will expand on this strong base to provide in addition advisory and execution services that are fully compliant with the highest international standards of corporate governance in:

Corporate Finance
Merger and Acquisitions
Funds and Asset Management
IPOs
Securities Dealing and Trading
Private Placements
Equity and Bond Research
Investment advice

Dr. Mazen Hassounah , the Chief Executive Officer of RANA, said today that he, on behalf of the shareholders, staff and management,

“was really pleased to have been awarded the CMA license. This is a fitting reward for the great deal of time and effort applied by our multi-cultural staff of professionals to establish and demonstrate our full endorsement of the new Rules and Regulations governing the Financial Services industry going forward, as laid out by the Capital Market Law and its related regulations.”

“RANA is a Saudi company and will look to further the opportunities of enthusiastic and competent nationals but will also look to the international markets for experience and guidance to insure the best interests of our clients are served and protected.”

“As part of this process we have secured the services of Peter Nankervis to manage and grow our investment advisory and execution business. We are currently evaluating applications from high quality individuals for positions within the key departments, including Back-Office Operations and Compliance”.

“Sadly we can not ensure that investors will always make the returns that had been expected. Rampant stock speculation provides substantial liquidity to the financial system but it is a double-edged sword that can seriously hurt the unwary and not for everyone.”

“We make sure that we fully understand our client’s circumstances and requirements to tailor our advice and recommendations accordingly”.

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Monday, May 29- 2006 @ 10:59 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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