Alrajhi Capital picks EquiLend for Shariah securities finance

Alrajhi Capital has chosen EquiLend as its securities finance technology partner. The firm will deploy EquiLend Spire together with post-trade, data and trading modules to support a scalable Shariah-compliant securities finance capability in Saudi Arabia.

The agreement covers an end-to-end solution including books and records, post-trade processing, data services and trading workflows. EquiLend’s Spire platform will be integrated into Alrajhi Capital’s infrastructure to support securities lending operations and related post-trade activity.

EquiLend CEO Rich Grossi said he was “delighted” that Alrajhi Capital joined its global securities finance community. Dimitri Arlando, director and head of EMEA sales, noted that Alrajhi Capital had been engaged in defining its technology needs and selected a provider aligned with its growth plans. Simon Heath, EquiLend’s chief strategy officer, said the adoption reflects growing recognition that stronger technology is needed to expand securities lending activity in Saudi Arabia.

Hossam E. Al Basrawi, chief executive of Alrajhi Capital, said the firm is committed to developing Shariah-compliant securities financing solutions and that the partnership with EquiLend will strengthen market infrastructure. Mohammed Alkassem, head of securities services, described the priority as building a scalable and sustainable securities finance business to serve institutional investors. Abdullah Alghamedi, director and head of custody and securities services, highlighted aims to provide a secure, Shariah-compliant securities financing experience and to broaden market access.

Securities financing, including securities lending and borrowing, is used in established capital markets to improve liquidity and support trading, settlement and market-making. EquiLend’s platform automates books and records, post-trade processes and trading workflows and supplies data to participants in the securities finance ecosystem.

Alrajhi Capital said it plans to use the systems to expand services for institutional clients in the Kingdom and to meet Shariah governance requirements. The agreement aligns with ongoing efforts to develop local market infrastructure and increase participation in Saudi capital markets.