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Pak-Oman launches brokerage services
Real estate news By Times News Service
Friday, October 05, 2007 9:02:07 PM
The shareholders agreement for the launch of Pak-Oman Brokerage Services Limited was signed at a ceremony held in Dubai on Thursday. UAE’s Metal Investment Holding Corporation and Oman’s Vision Investment Services Company (a company engaged in asset management, brokerage and corporate finance in Oman) are the signatories to the shareholders agreement of Pak-Oman Brokerage Services. Pak-Oman Brokerage Services Limited will initially be launched as a private limited company, and will soon go for dual listing. The mandate and the vision of the brokerage house is to focus on international markets and participate in attracting foreign capital in Pakistan. Speaking on the occasion, Yahya bin Said Al Jabri, chairman of Pak-Oman Group of Companies, expressed his delight while welcoming Metal Investment Holding Corporation and Vision Investment Services to the Pak-Oman family.
Highlighting the success of Pak-Oman Investment Company he said: “Pak-Oman Brokerage Services would be our third associate company. Pak-Oman is currently in the expansion mode, exploring various avenues of business while escalating its niche in the financial sector.” Pak-Oman Microfinance Bank and Pak-Oman Asset Management were established last year and are now fully operational. The bank now has a nationwide network of 15 branches providing micro credit. The asset management company aims to provide clients with new opportunities that will meet their changing investment needs in a dynamic environment while recognising the significance of conventional solutions and believe that each investor’s needs are unique, and in today’s continuously varying environment, sometimes an out of the box solution is what suits an investor best.
Pak-Oman Asset Management Company has successfully launched two funds, both of which were heavily oversubscribed, and now is in the process of launching Pak-Oman Bank of Punjab Advantage plus Fund and plans to launch an Islamic based Shariah compliant fund in November 2007. “The country’s strong economic performance, highly positive financial results in the banking sector, deregulation in the telecom sector, privatisation and implementation of major economic reforms during the last five years have added strength and financial stability to our stock markets. Foreign banks and major investment houses are eyeing Pakistan as an attractive investment destination,” he added.
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