Economics & Financial Consulting
Saudi Arabia - Riyadh
10-49 Employees
GIC is a full-fledged investment services company (closed joint stock company) being formed in Saudi Arabia by a group of Saudi businesspersons and a strategic partner from Kuwait (NIC), the company is authorized by the CMA to carry out all securities business activities in Saudi Arabia (dealing, arranging, managing, advising and custody). GIC’s authorized and paid-up capital is set at SR 400 Million with a paid up capital of SR 100 Million. The strategic partner is National Investments Company (NIC), a listed company on the Kuwait stock exchange and is one of the leading investment firms in Kuwait and other GCC countries. It was established in 1987 and has operated profitably ever since. NIC engages in asset management where their assets under management (AUM) amount to USD 13 billion as at the end of 2007 . NIC will provide key business support to the newly established company. NIC’s support will result in cost, time and resource reductions especially in the area of IT, HR and other supporting functions. As for the nature of the relationship between NIC and GIC, this relationship will take the form of strategic alliance.