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The Capital Markets Authority has granted a license to Salaam Investment Bank Kenya Limited to operate as an investment bank under the Capital Markets Act and Regulations.
The license will enable the Salaam to offer its clients wealth management services and explore Shariah compliant products and services. The intermediary 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.
An investment bank is a non-deposit taking institution licensed by the Authority to also underwrite securities issued or to be issued to the public, and engage in the business of a stockbroker or dealer.
The newly licensed Investment Bank’s parent company is Salaam African Bank, based in Djibouti and regulated by the Central Bank of Djibouti.
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