CMA Grants a Djibouti-based Salaam African Bank License to Operate an Investment Bank in Kenya

CMA Grants a Djibouti-based Salaam African Bank License to Operate an Investment Bank in Kenya

The Capital Markets Authority has granted Djibouti-based Salaam African Bank a license to operate an investment bank in Kenya.

Salaam Investment Bank Kenya Limited will offer its clients wealth management services and explore Shariah compliant products and services.

It will be able to undertake investment advisory on corporate restructuring for example takeovers, mergers, acquisitions, privatisation and corporate financing for example issuance of equity and debt securities.

The license will also enable it to underwrite securities issued or to be issued to the public, and engage in the business of a stockbroker or dealer.

Salaam African Bank is regulated by the Central Bank of Djibouti.