RIYADH, SAUDI ARABIA – Media OutReach Newswire – 31 January 2024 – Valuable Capital Financial Company (VCFC), a brokerage firm licensed by the Capital Market Authority (22251-25), announced its corporate name change to Sahm Capital Financial Company (Sahm Capital) effective from January 25, 2024. The announcement comes after its successful launch of the first online trading app Sahm in Saudi Arabia.
“It marks a milestone in Sahm’s journey to become the best online broker in Saudi Arabia. We will remain deeply committed to providing Saudi users with a seamless and tailored investing experience, making investing as simple as breathing,” said Hadeel Bedeeri, General Manager of VCFC.
In October 2023, VCFC received licenses from the Capital Market Authority (CMA) to conduct Dealing, Advising, and Custody services in KSA, making it the first international online brokerage firm to provide online brokerage services in KSA.
In December 2023, the company launched its online trading app Sahm, a proprietary designed and developed specifically for investors in Saudi Arabia. The first of its kind in KSA, Sahm offers users the opportunity to trade in both Saudi and US markets within one app and provides a list of Shariah Compliant Stocks in the US market and a variety of US stock ETFs with Arabic themes.
Sahm app features speedy client account establishment and enables one-click quick switch between Saudi and U.S. stocks accounts in real time for both trading and currency conversion. To accommodate professional traders’ demands, the app also allows users to create Conditional Orders, a synthetic and powerful trading tool previously only seen on professional trading desks.
The Sahm app is now available for download on the iOS App Store, the Android Play Store, and Huawei AppGallery. For more details, visit https://www.alsahm.com
About Sahm Capital
Registered in Riyadh, Sahm Capital (previously known as VCFC) is a joint venture company of Valuable Capital Group Ltd and eWTP Arabia Capital. Sahm Capital is also a registered member of the Saudi Stock Exchange, Tadawul, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). The company is also a member of Mena Fintech Association and Middle East Africa and Asia Crypto and Blockchain Association (MEAACBA).