Commodity Online
MUMBAI: Leading financial services company Geojit Financial Services said on Tuesday that the company has launched stock market operations in Saudi Arabia.

Aloula Geojit Brokerage Company, a joint venture between Geojit Financial Services and Saudi Arabia's Al Johar group, has executed the first trade in Tadawul, the Saudi Stock Exchange on November 10.

Geojit Managing Director, C J George, said that the initiative in Saudi Arabia will further strengthen the company's strong presence in the Gulf with operations in the UAE, Bahrain, Oman and Kuwait.

“We are confident that our track-recor d, domain expertise and proven technological capabilities will help us to provide Saudi investors and the large NRI population with a range of financial solutions that will fulfill their financial goals,'' he said.

Aloula Geojit is headquartered at Riyadh and will be opening branches in the main cities of Saudi Arabia over the next few years. The company will offer a wide range of products and services such as brokerage in the local equity market for the Saudi nationals. For NRIs, the company will provide access to the Indian capital market and Indian mutual funds.