Velexa and Ajyad Capital Partner to Revolutionize Digital Investing for GCC Residents
Velexa, a leading WealthTech innovator, and Ajyad Capital, a renowned investment management firm, have joined forces to revolutionize investing in the GCC region. By leveraging Velexa's advanced technology and Ajyad Capital's deep regional expertise, the two companies will launch a state-of-the-art digital platform that provides seamless access to global and local markets.
- (1888PressRelease) December 19, 2024 - Abu Dhab – Velexa, a leading WealthTech innovator, and Ajyad Capital, a renowned investment management firm based in the Kingdom of Bahrain, have signed a Memorandum of Understanding (MoU) to establish a strategic alliance aimed at revolutionizing investing landscape in the GCC region.
This partnership is aimed at supporting the goals of economic diversification and financial empowerment within the region. Building on Velexa’s commitment to enable cutting-edge investing technology solutions and leveraging Ajyad Capital’s robust market presence and deep regional expertise in financial services, the two organizations aim to introduce innovative investing services for the Kingdom of Bahrain, UAE, the Kingdom of Saudi Arabia, Kuwait, Sultanate of Oman and Qatar. Harnessing advanced WealthTech tools from Velexa, Ajyad Capital will launch a modern Shari’ah compliant investing and trading application to meet the evolving needs of private and institutional investors across the region.
The strategic alliance between Velexa and Ajyad Capital will introduce a state-of-the-art digital brokerage platform, enabling investors to access global and local market venues while adhering to Shari’ah principles. By leveraging AI-driven, customizable wealth management platforms tailored to GCC’s unique market dynamics, the partnership aims to drive digital transformation across the region's financial sector. Seamless access to a wide range of investment options will empower both individuals and institutional clients to achieve their financial goals.
H.E. Mr. Saeed A J Al Faheem, Chairman of Ajyad Capital, emphasized the strategic importance of this partnership: “This collaboration marks a significant milestone for our organization as a whole. By aligning with Velexa, we are not only enhancing our service offerings but also positioning Ajyad Capital at the forefront of financial innovation in the GCC region. This partnership is a testament to our dedication to driving sustainable growth and creating lasting value for our stakeholders.”
Additionally, through Ajyad Capital’s extensive network and connectivity to stock exchanges in the region, Velexa’s institutional customers – financial services providers globally, will gain access to GCC markets, creating unparalleled opportunities for cross-border investments. This alliance underscores the commitment from both companies to fostering innovation, inclusivity, and growth in the evolving financial landscape.
“Velexa is thrilled to partner with Ajyad Capital to accelerate the adoption of modern WealthTech solutions in the GCC region,” said Tamara Kostova, CEO of Velexa. “This partnership is a game-changer for addressing the outflow of wealth from the GCC region. Today, a significant part of the region's wealth is managed outside its borders. By combining Ajyad Capital’s regional expertise with Velexa’s technological innovation, we aim to create a transformative ecosystem that empowers investors and businesses to retain and grow their wealth locally. Together, we are unlocking the region's true financial potential and fostering sustainable growth.”
Ajyad Capital, known for its innovative financial services and strong foothold in the GCC region, sees the alliance as a gateway to modernizing wealth management practices while fostering economic growth.
“We are excited to collaborate with Velexa, whose technological capabilities align perfectly with our mission to drive financial excellence in the region,” said Suhail Hajee, CEO of Ajyad Capital. “This partnership reflects our commitment to staying ahead of market trends and offering our clients exceptional services.”
About Velexa
Velexa is a leading WealthTech company that empowers financial institutions of all sizes to seamlessly integrate investment products and services into their offerings, enhancing customer experiences and engagement. By offering customizable investing platforms, Velexa aims to democratize access to wealth management, enhance financial literacy, and unlock opportunities for investors globally. Operating across diverse international markets, the company boasts a robust presence in Europe, the GCC, and Southeast Asia, while continuing its global expansion with a recent entry into Brazil, solidifying its position as a key player in the global WealthTech ecosystem.
About Ajyad Capital
Ajyad Capital B.S.C. (c) is a prominent investment management firm with a robust shareholder base across the GCC. Established in 2003 and licensed by the Central Bank of Bahrain as an Islamic Investment Business Firm - Category 1.
In its commitment to innovation, Ajyad Capital introduces WealthTech solutions that redefine investment products and services, empowering clients to achieve their financial goals with cutting-edge technology and personalized strategies.
Media Contact
Stephany Zoo, Strategic Advisor at Velexa, e-mail: stephany.zoo ( @ ) velexa dot com
Sawsan Al-Ansari, Head of Support Services at Ajyad Capital, e-mail: salansari ( @ ) ajyadcapital dot com
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