Jadwa finds opportunities in tough times
Saudi base gives Islamic specialist a platform for regional expansion.
Jadwa Investment is a Saudi bank, based in Riyadh and operating according to Shariah principles. It works with individual, corporate and institutional clients, offering asset management, brokerage, corporate advisory, equity research and other investment banking services.
The bank gained its investment banking licence from the Capital Markets Authority in 2006. Its founding partners include prominent local individuals, not least its chairman, Prince Faisal bin Salman bin Abdulaziz al Saud.
The backdrop over those five years has not been easy for the firm, according to chief executive officer Ahmed al Khateeb, who had headed HSBC’s private banking operations in Saudi Arabia.
"We have been living in interesting times," he says. "We made the decision to start Jadwa in early 2006 and immediately we saw a dramatic collapse of the regional stock markets in February 2006. By the time we had started to get good momentum in our business we had the 2008 credit crisis. This year, [we had] the EU sovereign debt crisis and the Arab Spring."