Geojit Fin bags approval for Saudi broking operation

New Delhi, Dec 26: Stock broking company Geojit Financial Services today said its Saudi Arabia-based joint venture, Aloula Geojit Brokerage Company, has received licence to start broking operations in Saudi Arabia.

Post the approval from Capital Market Authority, the licencing authority for broking operations in Saudi Arabia, the joint venture will invest an initial capital of 100 million saudi riyal in the project.

In addition to being a joint venture partner, the company will manage the operations of the joint venture.

UNI