RIYADH, KSA – October 23, 2022 – Valuable Capital Financial Company (VCFC), a subsidiary of the esteemed Hong Kong-based Valuable Capital Group Limited, has announced its achievement of initial licenses from the Capital Market Authority (CMA) to provide Dealing, Advising, and Custody services in Saudi Arabia. This milestone marks VCFC as the first and only licensed corporation from Asia to operate in the kingdom.
Once the final license is secured, VCFC plans to roll out a suite of services aimed at empowering Saudi investors to develop global investment portfolios. The company is also preparing to launch additional financial services, including asset management, IPO advisory, and fixed income offerings, contingent upon receiving further CMA approvals.

Established in Riyadh earlier this year, VCFC is a joint venture between Valuable Capital Group Limited (VCGL) and eWTP Arabia Capital. This strategic partnership is anticipated to bolster the global business aspirations of both entities while enhancing their presence in the MENA region.

VCFC aims not only to provide comprehensive financial solutions but also to amplify the geographical and national significance of Saudi Arabia, contributing to the kingdom’s ambition to maintain a leading global role.

In alignment with Vision 2030, VCFC’s services are designed to attract global investors and stakeholders, thereby addressing existing gaps in the domestic financial market.

“We have observed remarkable FinTech innovation and robust growth in the capital markets within the MENA region, particularly in Saudi Arabia, which boasts exceptional talent and ample market liquidity,” remarked Jess Cheung, Co-founder of Valuable Capital Group Limited.

Valuable Capital Group Limited is a technology-driven financial solution provider headquartered in Hong Kong, catering to millions of retail, institutional, and corporate clients worldwide. Its subsidiary, Valuable Capital Limited, ranked as the second-largest online broker in the Hong Kong stock market by notional value in 2020, according to CIC reports. The group has also established a presence in major markets, including Hong Kong SAR, Mainland China, the United States, Singapore, Australia, and New Zealand.

According to a report by the Economist Intelligence Unit (EIU), Saudi Arabia is projected to be the fastest-growing among the world’s largest economies in 2022, with its financial and trading markets gaining increasing popularity and heightened dealer activity.

“Saudi Arabia’s financial market holds vast potential for rapid growth, necessitating the participation of a diverse array of financial institutions and platforms to fully meet market demands. We are confident that VCFC is poised to bring its proven technology and big data-driven service offerings to the kingdom, working alongside local partners to serve the Saudi financial sector effectively,” stated Jerry Li, Managing Partner of eWTP Arabia Capital.