Alistithmar Capital

Investment Brokerage and Asset Managementicap.com.sa

Alistithmar Capital (ICAP) is a Riyadh-based, Saudi Investment Bank–owned securities broker and asset manager licensed by the CMA, serving retail, institutional, and Sharia-compliant investors across Tadawul, international markets, and REITs through nine public funds and electronic trading platforms.

Company typePrivate
Founded2007
HeadquartersRiyadh, Saudi Arabia
Headcount51–100
GTM typeB2B and B2C
OfferingServices

What Alistithmar Capital does

Alistithmar Capital (ICAP), legally 'The Investment Company for Securities and Brokerage,' is a Saudi closed joint stock company headquartered in Riyadh and 100% owned by Saudi Investment Bank. Established to operate within the Saudi capital markets under Capital Market Authority License No. 37-11156, the firm provides a diversified suite of financial services spanning securities brokerage on Tadawul and international markets, asset management of nine public investment funds, margin financing for qualified investors, investment banking advisory, and real estate investment through REIT structures including Alistithmar REIT and the recently launched Alistithmar AREIC Diversified REIT Fund. The client base comprises retail and high-net-worth individual investors (primary), corporate and institutional clients, and Sharia-compliant investors seeking Islamic finance products.

The company's technology platform centers on an electronic trading infrastructure delivered via the online.icap.com.sa web portal, the ICAP Trade mobile application on iOS and Android, phone-based trading with call recording for compliance, and dedicated portals for fund subscriptions (mf.icap.com.sa) and REIT unit trading (re.icap.com.sa). The platform supports Arabic and English, includes two-factor authentication, and provides a foreign investor onboarding channel (ioao.icap.com.sa). Operations are anchored at the Riyadh headquarters on King Fahd Branch Road, with multi-channel customer service including phone, email, WhatsApp, and in-person complaint handling.

Alistithmar Capital generates revenue through five primary streams: transaction-based brokerage commissions on buy/sell executions, recurring management fees from nine public investment funds, interest/markup on margin facilities tied to Saudi Investment Bank benchmark rates, professional services fees from investment banking and corporate finance mandates, and subscription/recurring fees from REIT management including a SAR 420 million in-kind subscription and SAR 605 million credit facility within the AREIC Diversified REIT. Pricing is not publicly disclosed; a 15% VAT applies to service fees effective July 2020. The company is wholly integrated into its parent bank's service ecosystem, with no independent external shareholders or disclosed funding rounds.

Alistithmar Capital firmographics

Firmographics

Name: Alistithmar Capital
Legal name: The Investment Company for Securities and Brokerage (Al-Istithmar Capital) – شركة الاستثمار للأوراق المالية والوساطة (الاستثمار كابيتال)
Website: https://icap.com.sa
Company type: Private
Founded year: 2007
Operating status: Operating
Headcount range: 51–100 employees
Short description: Alistithmar Capital (ICAP) is a Riyadh-based, Saudi Investment Bank–owned securities broker and asset manager licensed by the CMA, serving retail, institutional, and Sharia-compliant investors across Tadawul, international markets, and REITs through nine public funds and electronic trading platforms.
Ownership category
akta.pro rank

Alistithmar Capital industry classification

Industry

Product category: Investment Brokerage and Asset Management
NAICS: Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Other Investment Pools and Funds (5259), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
SIC: Security Brokers, Dealers & Flotation Companies (6211), Real Estate Investment Trusts (6798), Investment Advice (6282)
akta.pro primary industry: Islamic Investment Banking & Capital Markets Services (FSABAGAG)
akta.pro secondary industries: Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Private Banking & Wealth (FSABAGAD), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

Securities brokerage services
Asset management services
Investment banking advisory
Real estate investment funds
Sharia-compliant investment products

Where Alistithmar Capital is headquartered

Location

Headquarters

HQ city: Riyadh
HQ country: Saudi Arabia
HQ region: Middle East

Offices1 record

Markets served

Alistithmar Capital business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

Brokerage Services: Securities brokerage services for Saudi stock market (Tadawul) and international markets, earning commissions on buy/sell transactions executed through the platform.
Asset Management: Manages 9 public investment funds including equity funds, Murabaha funds, diversified funds, and SME funds. Generates management fees from fund operations and performance.
Margin Facility: Provides credit facilities for purchasing and selling stocks, charging interest/markup on borrowed amounts.
Real Estate Investment Services: Manages REIT funds including Alistithmar REIT and Alistithmar AREIC Diversified REIT. Provides real estate investment platform for trading real estate units.
Investment Banking Services: Corporate finance, advisory, and investment banking services for clients.

Pricing tiers

Model	Billing	Price
Transaction based/ take rate	Pay-as-you-go	Brokerage commission rates

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Alistithmar Capital product offering

Product offering

Core offering

Alistithmar Capital provides securities brokerage on the Saudi Tadawul and international markets, asset management across 9 public investment funds (equity, Murabaha, diversified, SME, and REIT funds), investment banking and corporate finance advisory, margin facilities for qualified investors, and Sharia-compliant real estate investment (REIT) products. Services are delivered through proprietary electronic, mobile, and phone-based trading platforms alongside physical investment centers.

Differentiator

Problem solved

Functional benefit

Products and services

Securities Brokerage Services Buy/sell brokerage for Saudi (Tadawul) and international securities, executed via electronic, mobile, and phone channels, for retail and institutional investors.
Public Investment Fund Management Manages 9 public investment funds including growth, Saudi companies, Saudi equities, MENA equities, flexible Saudi equities, Saudi Riyal Murabaha, quarterly distribution, Saudi Riyal diversified, and SME funds, available for subscription via the mutual funds portal.
Investment Banking Services Corporate finance, advisory, and investment banking services provided to corporate and institutional clients.
Margin Facility Credit facility for purchasing and selling stocks, with interest/markup charged on borrowed amounts based on Saudi Investment Bank rates; available to qualified investors.
Real Estate Investment (REIT) Services Management of Sharia-compliant REIT funds (Alistithmar REIT and Alistithmar AREIC Diversified REIT) with a dedicated platform for trading real estate investment units.

Quantifiable outcome

Guaranteed minimum annual NOI of SAR 17.5 million for four years from October 1, 2025 for REIT property
+2 more outcomes

Companies that use Alistithmar Capital

Customer profile

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Alistithmar Capital technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Alistithmar Capital partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

AREIC REDcoreStrategic or Co-development Partner · 18 June 2026AREIC RED signed a commercial guarantee agreement with Alistithmar Capital as manager of Alistithmar REIT Fund. AREIC RED irrevocably guarantees a minimum annual net operating income of SAR 17.5 million for the fund-owned property Somerset Downtown Al Khobar for four years from October 1, 2025. If actual NOI falls below the guaranteed minimum in any year during the guarantee period, AREIC RED will pay the shortfall to the fund.

Scale indicators7 records

Recent moves4 records

Expansion highlights5 records

Alistithmar Capital competitors and assessment

Company assessment

Direct peers

Riyad Capital: Largest Saudi investment bank and CMA-licensed broker offering retail brokerage, asset management, and investment banking — directly overlapping with Alistithmar Capital's full-service securities and fund management franchise.
GIB Capital: Investment banking subsidiary of Gulf International Bank operating in Saudi Arabia with brokerage, advisory, and asset management — relevant Saudi-headquartered peer with similar institutional mandate.
Saudi Fransi Capital: Investment subsidiary of Banque Saudi Fransi offering brokerage, asset management, and corporate finance — a Saudi bank-affiliated competitor with a similar institutional structure to ICAP.
Jadwa Investment: Saudi Arabia-based investment management and advisory firm offering asset management and investment banking — competes with ICAP's institutional asset management and advisory mandates.
Al Rajhi Capital: Sharia-compliant investment subsidiary of Al Rajhi Bank offering brokerage, asset management, and REITs in Saudi Arabia — competes head-to-head with ICAP's Islamic finance product suite.
SNB Capital: Investment arm of Saudi National Bank providing brokerage, asset management (mutual funds), and investment banking across Saudi markets — closest functional analogue to ICAP's combined offering.
AlJazira Capital: Investment arm of Bank AlJazira providing brokerage, asset management, and investment banking services in Saudi Arabia — directly comparable bank-affiliated competitor.
Derayah Financial: Leading Saudi digital-first brokerage and asset manager — competes directly with ICAP's online trading platform and fund distribution channels, particularly for retail Saudi investors.
AlAhli Capital: Investment banking arm of National Commercial Bank (now SNB) providing brokerage, asset management, and advisory services — comparable Saudi full-service capital markets player.

Broad incumbents

Saudi Investment Bank: Parent bank of Alistithmar Capital; broader commercial banking institution whose investment banking and brokerage arms overlap with ICAP, providing internal benchmarking for the subsidiary's positioning.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Alistithmar Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Alistithmar Capital leadership team

Management profile

Number of profiles

Alistithmar Capital funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Alistithmar Capital M&A and investment

M&A and investment

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alistithmar Capital

What does Alistithmar Capital do?

Is Alistithmar Capital a public or private company?

Alistithmar Capital is a private company. It is classified as corporate owned and is currently operating.

When was Alistithmar Capital founded?

Alistithmar Capital was founded in 2007. It employs 51 to 100 people.

Where is Alistithmar Capital based?

Alistithmar Capital is headquartered in Riyadh, Saudi Arabia, in the Middle East region.

How does Alistithmar Capital make money?

Five revenue lines are on record. Brokerage Services are the primary driver. The others are asset Management, margin Facility, real Estate Investment Services and investment Banking Services.

Who are Alistithmar Capital's main competitors?

Direct peers on record are Riyad Capital, GIB Capital, Saudi Fransi Capital, Jadwa Investment, Al Rajhi Capital, SNB Capital, AlJazira Capital, Derayah Financial and AlAhli Capital. Saudi Investment Bank is listed as a broad incumbent.

Does Alistithmar Capital have an API?

No public API is recorded for Alistithmar Capital.

What industry is Alistithmar Capital in?

Alistithmar Capital's product category is Investment Brokerage and Asset Management. Its primary akta.pro industry code is FSABAGAG, Islamic Investment Banking & Capital Markets Services, with a secondary code of FSABAGAH, Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam). Its NAICS code is 523940 and its SIC code is 6211.