Watani Investment Co, Watani Financial Brokerage complete merger process
KUWAIT: Watani Investment Company KSCC and Watani Financial Brokerage Company KSCC, two subsidiaries of NBK Group, have completed their merger process, by which Watani Investment Company is the merging company and Watani Financial Brokerage Company is the merged company.
This merger comes after the two companies obtained the approval of Kuwait Capital Markets Authority (CMA) to complete the merger, in accordance with Annex 1 of Module Nine (Mergers and Acquisitions) of the executive regulations of Law No (7) of 2020 and their amendments.
Commenting on this step, Mishari Al-Wazzan, Head of Brokerage at Watani Investment Company said: 'The merger between Watani Investment Company and Watani Financial Brokerage Company should have a positive impact on their clients in many ways by combining integrated trading and investment services under one umbrella, we enable clients to access a comprehensive investment system that encompasses a diverse range of investment and trading services.'
Al-Wazzan added that: 'this step will enable Watani Investment Company to upgrade its trading services, simplify procedures and processes and benefit from current and upcoming digital solutions, to enhance its clients' experience, and provide them with easier access to wider investment solutions' and highlighted that 'another benefit of the merger is that Watani Investment Company clients who trade in Boursa Kuwait will be able to access brokerage services through NBK branches across the country, as well as through the company's representative offices in Boursa Kuwait, giving them access to these services in a better, easier, and faster manner.'
It should be noted that Watani Investment Company, a leading investment firm in the region, was established in 2005. It is setting the standard in growth-focused innovative financial products and services with a customer-centric approach, addressing the specific needs of investors. Watani Investment Company combines local and regional expertise with the resources and global network of National Bank of Kuwait, one of the largest and oldest financial institutions in the region, to consistently deliver integrated solutions, innovative products and objective research with excellence in service. With over 120 investment professionals, Watani Investment Company prides itself in a leading regional presence and a global reach and scale.
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