Gulf Islamic Investments strengthens its presence in Kingdom

Fawaz Al Tamimi
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Updated 09 July 2023
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Gulf Islamic Investments strengthens its presence in Kingdom

Gulf Islamic Investments expanded its operations in Saudi Arabia substantially in 2023 with the acquisition of a full investment license from the Saudi Capital Market Authority and the planned opening of a GII office in Riyadh this year. 
A leading Shariah-compliant global alternative investment company with over $3.5 billion of assets under management, GII already has several investments within the Kingdom.
In May 2022, GII took a majority share in the Al Meswak Medical Group for $600 million co-partnering with the giant Saudi Jadwa Investment management and advisory firm.
Al Meswak has the largest chain of dental and dermatology clinics in Saudi Arabia, comprising over 90 facilities in more than 37 Saudi cities, plus the recent acquisition of two dental clinics in Abu Dhabi’s Al Ain region in the UAE.
Fawaz Al Tamimi, chairman of the GII office in Saudi Arabia, said: “I am delighted that GII has been successful in its bid to play a stronger role in the Kingdom’s impressive investment story. Combining my experience on the GII Board and knowledge of Saudi Arabia’s business landscape with GII’s undoubted talent for spotting investment opportunities can increase the returns for our current shareholders and new partners through our expanded Saudi operations.” 
Mohammed Alhassan, GII’s co-founder and co-CEO, said: “This new investment license underlines our willingness to expand our existing relationships in the Kingdom. GII’s Saudi investment operations support the Financial Sector Development Plan of Saudi Arabia’s Vision 2030 to diversify the nation’s alternative asset management options, plus other development initiatives by acquisitions and co-investments with Saudi and other investors.”
Fellow GII co-founder and co-CEO Pankaj Gupta said: “GII has already recognized the plethora of opportunities in Saudi Arabia, boosting its existing operations in the agribusiness, healthcare, education and logistics sectors. This investment license and a physical presence in Riyadh can supercharge our operations across the Kingdom and beyond, powered by GII’s network of investment relationships and its international offices across the GCC, Europe, the USA and India.”

 


‘Wealth Grows Here’: Aljazira Bank launches new brand identity

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‘Wealth Grows Here’: Aljazira Bank launches new brand identity

Aljazira Bank announced the launch of its new brand identity under the slogan “Wealth Grows Here,” marking a natural evolution in a growth journey spanning more than five decades. Over the years, successive phases of transformation have shaped the bank into what it is today, with the new identity serving as the culmination of a strategic chapter that strengthened the bank’s role within the Saudi banking sector.

As part of this milestone, the new brand launch also extended to Aljazira Capital, the bank’s investment arm, reflecting a unified vision and strategic alignment across the group. The updated identity of Aljazira Capital underscored its evolution as a specialized investment and wealth management institution, focused on delivering carefully structured investment solutions and strengthening its role as a trusted partner in building and growing long-term investment portfolios, fully aligned with the bank’s broader direction.

The announcement also included the launch of the new identity for Fawri, aligning it with the bank’s updated brand and reflecting its commitment to delivering reliable and seamless financial transfers within an advanced and integrated financial ecosystem.

Naif bin Abdulkareem Al-Abdulkareem, CEO and managing director of Aljazira Bank, said: “The new brand identity goes beyond a visual change; it is a true reflection of what the bank has become today. Since the strategic refresh in 2023, we have restructured how we operate, aligned our business lines around a shared objective, and strengthened execution. The progress we see today, in service quality and speed of delivery — confirms that we are moving in the right direction.”

The new identity reflects the outcomes of the bank’s 2023 strategic transformation, a pivotal milestone in its journey. This phase focused on developing an integrated banking ecosystem with a stronger emphasis on individual wealth management, supported by a more agile and efficient operating model led by digital channels. It balanced sustainable growth with strengthening the corporate portfolio, accelerating investment in digital infrastructure and human capital, and enhancing operational efficiency.

Since its establishment, Aljazira Bank has progressed through successive stages of growth, evolving from a traditional bank into a more innovative and specialized financial institution. Today, it places wealth management at the core of its proposition, offering a banking experience built on long-term relationships and a deep understanding of clients’ financial aspirations. In parallel, the bank has continued to reinforce its role as a trusted partner to the business sector, serving large corporates as well as small and medium-sized enterprises through solutions that support growth, sustainability, and the Kingdom’s broader economic development goals.

At the heart of this direction stands the bank’s new slogan, “Wealth Grows Here,” which captures its role as a key partner in building and preserving wealth for individuals and businesses alike, creating sustainable value beyond the delivery of traditional banking services.