EquiLend Partners with Alrajhi Capital to Enhance Securities Finance Technology

EquiLend Teams Up with Alrajhi Capital for Tech Advancement in Securities Finance

In a significant move set to bolster the securities finance sector in Saudi Arabia, EquiLend, a renowned global leader in securities finance technology, has been chosen by Alrajhi Capital as its technology partner. This partnership aims to enhance Alrajhi Capital's capabilities in the securities lending sphere, establishing a robust foundation for future growth.

Alrajhi Capital is not just any financial institution; it holds the title of the largest Islamic bank globally by assets. This partnership underscores their commitment to expanding their securities finance business in a rapidly evolving market. The partnership will provide Alrajhi Capital with a comprehensive end-to-end solution that includes EquiLend’s advanced platforms for books and records, post-trade, data, and trading processes. With such a wide-ranging technological toolkit, Alrajhi Capital is poised to streamline its operations and improve efficiency.

Rich Grossi, CEO of EquiLend, expressed his enthusiasm about the collaboration, stating, "We are delighted that Alrajhi Capital has chosen to partner with EquiLend and join our global Securities Finance community." He believes that Alrajhi's commitment to securities finance reflects a growing trend in the Middle East, where these markets are becoming increasingly vital.

Dimitri Arlando, Director and Head of EMEA Sales at EquiLend, highlighted Alrajhi Capital's proactive approach in seeking a technology partner that aligns with their aspirations for growth. According to him, the entire team at Alrajhi has been engaged in defining their requirements, showcasing their serious intent to expand in the securities lending space.

The significance of this partnership goes beyond technology; it symbolizes a noteworthy shift in the market dynamics of Saudi Arabia. With the Saudi Arabian capital markets evolving, having Alrajhi Capital on board will enhance liquidity in the securities lending sector. Simon Heath, Chief Strategy Officer at EquiLend, noted that the decision to adopt EquiLend's technology is a testament to the need for a robust infrastructure that can support the growth of securities lending in the region.

Alrajhi Capital's Chief Executive Officer, Hossam E. Al Basrawi, conveyed that securities financing is critical for every mature capital market. The organization's focus has been on developing Shariah-compliant securities financing solutions, aiming to deepen market access and promote long-term growth in alignment with Saudi Arabia's Vision 2030 initiative.

As the partnership unfolds, Alrajhi Capital anticipates leveraging EquiLend’s product range to establish a more efficient and scalable securities finance operation. Mohammed Alkassem, the Head of Securities Services at Alrajhi Capital, emphasized the importance of building a system that supports the needs of institutional investors, ensuring that they can achieve their financial aspirations without compromising on compliance or quality.

This strategic alliance aims to create a seamless, secure, and Shariah-compliant financing experience for clients. Abdullah Alghamedi, Director and Head of Custody Securities Services at Alrajhi Capital, noted that the partnership will not only enhance their operational capabilities but will also elevate service standards for clients.

EquiLend’s extensive experience in the securities finance industry positions them perfectly to assist Alrajhi Capital in navigating the complexities of the capital market. The collaboration is expected to set new benchmarks in technology-driven securities financing solutions, helping Saudi Arabia’s financial sector keep pace with global standards.

In summary, the partnership between EquiLend and Alrajhi Capital represents a pivotal step in developing a more robust and sophisticated securities financing environment in Saudi Arabia. As both organizations embark on this journey together, they are set not only to redefine standards within the region but also to contribute significantly to the ongoing evolution of the Middle East's capital markets.