CEO's message

Since March 2022, the US Federal Reserve has begun raising interest rates, so there has been a ripple effect on the economies of other countries, including Saudi Arabia.

Thus, the Central Bank (SAMA) decided to adjust the repurchase agreement rate (repo) as well as the reverse repurchase agreement rate (reverse repo), with the aim of maintaining monetary and financial stability in line with linking the exchange rate of the Saudi riyal to the US dollar to keep pace with the rise in interest rates in the United States, which have reached levels that have not reached We have been witnessing it since 2008.

During the previous period, the gradual raising of interest rates had a negative impact on the economy in general and on alternative investments in particular, as the cost of borrowing doubled, which led to a decrease in cash flow and sufficient liquidity for investment, which had a profound impact on the investment sector.

Accordingly, the executive management of Asyaf Company believes in taking advantage of the current economic situation and the state of various private companies in restructuring companies and reducing costs in line with the economic slowdown that the world is currently witnessing.

The executive management has taken some important decisions, the most important of which is reducing the Asyaf team, not expanding acquisition deals for private funds managed by the company, and limiting itself to managing the current funds until the end of 2024.

Asyaf Company hopes that the economic situation will improve in the near future so that it can move forward on the path of success and contribute to the growth of the economy of our beloved Kingdom.

Karim Ramadan

Chief Executive Officer & Chief Investment Officer