Al Murjan Group, a prominent Saudi Arabian family business group, and BlueFive Capital, an international investment platform, have formed a strategic partnership to co-develop a global Islamic finance platform.

The agreement involves reciprocal ownership stakes in each other's respective Sharia-compliant asset management units: BlueFive acquiring a significant minority stake in Sidra Capital, and Al Murjan Group Holding obtaining a substantial shareholding in BlueFive786.

This collaboration will create enhanced access for both parties to cross-border investment opportunities and institutional capital.BlueFive786, based in Singapore, aims to provide Sharia-compliant investment products such as retirement and saving schemes to savers and retirees in countries like Indonesia, Malaysia, Bangladesh, Brunei, and Singapore.

As part of the partnership, BlueFive will establish an office in Riyadh, joining Sidra Capital in managing and undertaking investments within Saudi Arabia.The strategic alliance supports joint product development and co-branded investment vehicles, allowing institutional and private clients to access top-tier Islamic investment strategies.

Both parties are currently awaiting final regulatory approvals for the partnership in Saudi Arabia.Hazem Ben-Gacem, founder and CEO of BlueFive Capital, and Yasser Bajsair, co-founder at BlueFive, will join the board of directors at Sidra Capital.

Taufiq Bahamdain, CEO of Al Murjan Group Holding, and Shahid Shaikh, a board member at Al Murjan, will represent Al Murjan in the board of BlueFive786.Taufiq Bahamdain, commenting on the partnership, expressed: "This strategic alignment with BlueFive Capital enhances Sidra Capital's mission to become a globally recognized leader in Sharia-compliant finance.

By combining our expertise and access to Southeast Asia's dynamic markets with BlueFive's innovative platform, we are establishing a powerful channel for cross-border, values-driven investments." Hazem Ben-Gacem also noted: "We are grateful for the trust of Sheikh Abdulrahman Bin Mahfouz and look forward to building a lasting legacy in Sharia-compliant investing, alongside AlMurjan and Sidra Capital."Al Murjan Group is a multibillion-dollar conglomerate with global operations across various sectors, including financial investments, real estate assets, and private equity.

Sidra Capital, founded in 2009 and headquartered in Jeddah, manages $3.6 billion in AUM and operates additional offices in Riyadh, Dubai, London, and Singapore.BlueFive Capital is a global investment platform managing $2.6 billion in AUM, with a focus on high-growth economies to transform traditional financial models.

The firm offers strategic exposure to sectors defining the next generation of economic prosperity through consolidating parts of the financial services industry across insurance, private wealth, and public markets.BlueFive 786 aims to become a leading alternative asset manager for Shariah-compliant financial instruments globally, connecting high-growth Islamic markets with investment offerings that provide attractive returns.

The company offers various investment products, including annuities, fixed income, private equity, real estate, infrastructure, waqf management, and trade finance funds.