Al Salam Bank Unveils ASB Capital with $4.5B AUM
Al Salam Bank launches ASB Capital, a new asset management firm in DIFC with $4.5 billion AUM, marking a strategic expansion in the MEA region.
Summary
Al Salam Bank introduces ASB Capital, a DIFC-based asset management firm with $4.5 billion AUM, offering diverse investment solutions in the MEA region.
Al Salam Bank, Bahrain's largest Islamic bank, has announced the launch of ASB Capital, a new asset management firm based in the Dubai International Financial Centre (DIFC). Licensed by the Dubai Financial Services Authority (DFSA), ASB Capital is poised to make a significant impact with assets under management (AUM) of USD 4.5 billion.
This strategic move was revealed during the Gateway Gulf Investment Forum, highlighting Al Salam Bank's commitment to expanding its footprint in the asset management sector. ASB Capital aims to democratize access to investment opportunities traditionally reserved for institutional investors by offering a diverse range of products through cutting-edge wealthtech solutions.
ASB Capital's offerings are structured into four verticals: public markets, private markets, investment banking, and placement. This comprehensive approach is designed to cater to High Net Worth Individuals (HNWIs), family offices, corporations, and institutional clients across the Middle East and Africa (MEA) region and beyond.
In a bid to enhance its product suite, ASB Capital has formed an exclusive partnership with one of the world's largest global asset managers to launch a specialized global equity fund. Additionally, the firm plans to enter the Exchange Traded Fund (ETF) space through a collaboration with a leading global ETF provider. These initiatives are complemented by private markets products, including private equity, venture capital, and real estate, developed in collaboration with established partners.
ASB Capital's regional focus is aligned with the growing demand for specialized asset management and advisory services in the MEA region. With two active sell-side investment banking mandates already secured, the firm is well-positioned to offer unique advisory services and insights.
As part of the Al Salam Bank Group, ASB Capital is strategically positioned to leverage synergies within banking, insurance, and other financial services. This alignment supports the Group's long-term growth objectives and aims to build a sustainable asset management business that reinforces Bahrain's status as a hub for Islamic finance.
Rafik Nayed, Al Salam Bank's Group CEO and ASB Capital's Managing Director, emphasized that the launch of ASB Capital is a pivotal step in their journey to provide comprehensive and market-leading financial solutions. This initiative is expected to increase AUM and position ASB Capital among the top 10 asset managers in the region.
Given the strategic partnerships, innovative product offerings, and regional focus, investors might consider holding their positions in Al Salam Bank as the company continues to grow its asset management capabilities and expand its influence in the MEA region.
Source
Summary
Al Salam Bank, Bahrain's largest Islamic bank, has announced the launch of ASB Capital, a new asset management firm licensed by the Dubai Financial Services Authority. Based in the Dubai International Financial Centre, ASB Capital is set to launch with assets under management totaling USD 4.5 billion. The firm aims to offer a diversified wealth and asset management platform, providing access to investment opportunities typically reserved for institutional investors. ASB Capital will focus on four key areas: public markets, private markets, investment banking, and placement, targeting high net worth individuals, family offices, corporations, and institutional clients in the Middle East and Africa. The firm has partnered with a major global asset manager to introduce a specialized global equity fund and plans to enter the ETF market through a collaboration with a leading global provider. ASB Capital also intends to offer private market products, including private equity and venture capital, in partnership with established entities. The firm aims to address the growing demand for specialized asset management services in the region and is aligned with Al Salam Bank's growth objectives. ASB Capital aspires to become one of the top 10 asset managers in the region, focusing on excellence in asset and wealth management.
