In only two years, Albilad Capital has positioned itself as the Saudi market leader in domestic custody with over SAR 100 Billion worth of assets under custody.
In line with Albilad Capital’s Strategy, they hold a dominating market positing in mutual fund custody and are a trusted custodian to over 110 domestic and international investment funds, which include equity, sukuks, and money market as well as multi assets funds. They are also the largest custody service provider to Mutual Funds, Real Estate and Private Equity Funds.
The Disruption of Custody & Securities Services in Saudi Arabia
Historically, Custody & Securities services were not profitable. This was due to regulatory frameworks privation of differentiating, defining and segregating the specific roles and responsibilities of the custodian and the broker. This coupled with a challenging trade settlement timeline T+0, as well as limited access to foreign investors.
Fast forward to 2015, where the Saudi Capital Market Authority (CMA) issued a strategic roadmap for reforming the capital market and worked towards increasing institutional investor’s interest in the Saudi market. Additionally, Saudi Arabia significantly made in-roads, particularly around the development of an independent custody model.
The developments of the market and the now mandatory appointment of an independent custodian for mutual funds, as well as the recent inclusion in the MSCI Emerging Market Index and FTSE Russell created great opportunity for the custody service providers.
Unparalleled Custody Services
Visualising market development and to take advantage of an untapped market, Albilad Capital made the strategic decision in late 2015 to set up custody as a service.
Investing heavily in its digital infrastructure, Albilad Capital was able to provide a one window solution to fund managers, launching a full range of services including, Custody, Fund Administration and Registrar Services with global coverage through major global players in custody and fund administration industry.
With the success of their custody services, a full range portfolio of securities services was launched with services and value-added products like Payment Administration, Sukuk Holder Agent and IPO Management Services.
The Future is Digital (Digitalise or Jeopardise)
The emerging market developments provided lucrative business opportunity for Albilad Capital, hence introducing a number of bespoke investment products, specific to each client’s needs reinforced by state of the art digital platform, with a total Straight-through process capabilities and a large team of professionals to support the business.
Albilad Capital’s powerful custody platform has been designed to provide remotely accessible management environment to clients, offering a set of dynamic functions, including interactive dashboards, position analysis reports, performance and transaction enquiries, trading & documents’ downloads. It ensures seamless operations, either deployed as a standalone web portal integrated with any 3rd party back-end system or as part of a vertical solution.
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