ASB Capital, an asset management firm licensed by the Dubai Financial Services Authority (DFSA), has launched operations in the Dubai International Financial Centre (DIFC), starting with assets under management (AUM) of USD 4.5 billion. The firm will offer a range of wealth and asset management services, including investments in public markets, private markets, and investment banking.
Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital, stated, “The launch of ASB Capital represents a strategic milestone in our goal to set a new standard in wealth and asset management. Our expertise allows us to connect regional opportunities with global investors, and vice versa, ensuring we provide tailored solutions for sustainable growth and long-term value.”
Rafik added, “ASB Capital, with its deep understanding of GCC economies and market dynamics, is designed to cater to a discerning clientele that requires multi-asset strategies aligned with evolving financial objectives. This launch reinforces our commitment to building a trusted, independent wealth management platform that offers value for both regional and global investors, rooted in the strong legacy of Al Salam Bank.”
Hichem Djouhri, Senior Executive Officer of ASB Capital, commented, “The DIFC’s growing role as a leading financial hub continues to attract firms focused on innovation and global connectivity. By establishing ourselves in the DIFC, ASB Capital strengthens its position as a crucial link for global capital flows, connecting regional investors with international markets. Our blend of deep regional insights and global reach will drive transformative investment solutions for both local and global investors, and we look forward to contributing to the DIFC’s vision of shaping the future of finance.”
