Fitch Group, a leading global financial information services provider, has announced the approval of its regional headquarters (RHQ) licence by the Ministry of Investment of Saudi Arabia (MISA).

 

This RHQ will expand Fitch Group’s long-standing presence in the Middle East, which includes having opened offices in Riyadh by Fitch Ratings in 2017 and by Fitch Learning in 2023.

 

“Fitch’s RHQ will be the next exciting chapter in our Middle East story. We want to bring our heritage of excellence to support the evolution of Saudi Arabia’s financial markets and broader economic goals,” said Paul Taylor, President and CEO of Fitch Group.

 

Pivotal role

“Against the backdrop of Vision 2030 and similar regional initiatives, local capital markets and financial services have a pivotal role to play in helping deliver the economic and business transformation that will future proof the region for many years to come,” added Nejoud Al Mulaik, General Manager, Fitch Ratings, Saudi Arabia.

 

Having received approval for its MISA RHQ licence as of November 14, 2024, Fitch will now phase in the provision of strategic direction and management functions for the RHQ over the next six months, with related support services becoming operational during the following six months.

 

“This next exciting step underlines our commitment to being the partner of choice in Middle East capital markets,” Al Mulaik concluded.--TradeArabia News Service