International Holding Company (IHC), the most valuable listed holding company in the Middle East with a market cap of AED895 billion ($243.7 billion) as of June 30, 2024, has formed Rorix Holdings, a global finance and trade facilitation company focused on financial services, trade finance, advisory, commodities and trade insurance sectors.
The move will lead to more inclusive economic development by serving as an entry point through the UAE for local, regional and global businesses to access new markets.
Rorix Holdings’ services and solutions aim to accelerate trade volumes, attract foreign investment, and foster economic partnerships that will promote sustainable growth across multiple sectors. IHC said the “transformative project will shape the future of international trade and reinforce the UAE’s role as a key player in the global economy”.
IHC announced this in a filing at the Abu Dhabi Securities Exchange (ADX), and did not reveal any financials associated with the new company.
Syed Basar Shueb, CEO of IHC, commented: “As the UAE expands its market access through its Comprehensive Economic Partnership Agreement (CEPA) strategy, Rorix Holdings will leverage the latest technologies and trade solutions to empower businesses of all sizes to thrive in the international marketplace.
“Rorix Holdings will also play a crucial role in realising the UAE’s vision in facilitating seamless trade across borders and will serve as a crucial enabler for traders, service companies, entrepreneurs, and SMEs seeking new markets.”
The launch of Rorix Holdings comes at a pivotal time when businesses worldwide are seeking comprehensive support to navigate the complexities of international flow of trade. Rorix Holdings will engage in strategic partnerships and alliances with numerous UAE and international stakeholders in areas such as trading, financial services, commodities, logistics and distribution.
Founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE, IHC endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates.
Follow us on
