Category: News

QFIB has increased its equity stake in Al Rifai International Holding (Al Rifai) to 35%

Qatar First Investment Bank (QFIB), Qatar’s independent Islamic investment bank authorized by QFC Regulatory Authority, has increased its equity stake in Al Rifai International Holding (Al Rifai) to 35%. Al Rifai is the leading manufacturer of nuts and kernels, light snacks and delicacy in the Middle East with operation in Europe.

Emad Mansour, Chief Executive Officer of QFIB commented, “Since acquiring a 15% stake in Al Rifai late December of last year, the company has shown positive growth prospects. We strongly believe that Al Rifai has the right setup to venture into new markets and diversify its product range. We are very optimistic with our investment in Al Rifai Holding.”

Al Rifai’s total wholesale-performance recorded a 63.2% year on year growth during H1 2012. The company’s export-sales also registered a 66% growth for H1 2012, when compared to the same period last year. Since January 2012, the holding company has succeeded in opening 5 new outlets in Lebanon, reaching a total of 50 points of sales.

Al Rifai is currently seeking to increase its production capacity in Lebanon to reach 10,000 tons replicating the European state -of- the art plant in order to meet the increase in local and foreign demand. The new factory will open during 2nd quarter of 2013.

Mohamed Al Rifai, Chairman and CEO of Al Rifai International Holding said:     ”We strongly welcome the increase of QFIB’s share in Al Rifai. The increased stake by QFIB will enable Al Rifai to effectively manage risks, enhance corporate governance and ultimately facilitate growth. We look forward to continue working alongside QFIB’s team to further enhance the group’s performance and expand its operations.”

Late in December 2011, QFIB acquired 15% stake in Al Rifai. The deal marked QFIB’s debut investment venture in the F&B manufacturing industry reiterating the Bank’s prudent investment strategy that focuses on sectorial and geographic diversification

As part of QFIB’s annual Ramadan Blessings Campaign, the Bank recently hosted a special iftar in celebration of the Garangaou for the children of Qatar Orphan Foundation (Dhreima).

As part of Qatar First Investment Bank’s (QFIB) annual Ramadan Blessings Campaign, the Bank recently hosted a special iftar in celebration of the Garangaou for the children of Qatar Orphan Foundation (Dhreima).

“As an Islamic institution we place great emphasis on the Islamic precepts.  Islam has set the tone on the importance of engaging the less fortunate in the community specifically during the holy month where solidarity and brotherhood are greatly promoted.  We have a long standing relationship with Dhreima and our employees eagerly await this occasion to share in the joys of the Garangaou celebrations with the children of Dhreima.”, said Emad Mansour, Chief Executive Officer of QFIB.

Following iftar, the children joined QFIB staff and their families in a series of entertainment activities and the children were presented with the traditional Garangaou bag and gifts.

Khalid Kamal, the general  director  of Qatar Orphan Foundation said, “We would like to thank QFIB for engaging the children of Dhreima and making them part of their social fabric. This has become an annual event that our children look forward to.  Over the years, QFIB has demonstrated its on-going commitment to Islamic social values by trying to integrate this important segment of the community.”

Dhreima Qatar Orphan aims to provide an integrated Islamic system of care and shelter for orphans in the State of Qatar. Dhreima believes ensuring the welfare of orphans is the responsibility of society which is why partnering with other local organisations is an important aspect of their work.

QFIB concluded its first summer internship program for high school students. The three week program attracted eight students from various high schools in Doha

The new program further complements QFIB’s existing graduate Executive Program

Qatar First Investment Bank (QFIB), Qatar’s first independent shari’ah compliant investment bank authorised by the QFC Regulatory Authority, concluded its first summer internship program for high school students. The three week program which started in early July attracted eight students from various high schools in Doha and the internship is expected to develop into an annual summer program.

By educating high-school students on the various facets of QFIB’s business, the program offered an exclusive glimpse into the world of investment banking, as envisaged by a banking leader. Students who just completed the program also benefited from QFIB’s high calibre team of departmental specialists, who acted as the students’ mentors, while providing insight into their respective functions.

The Youth Company, which provides youth development programs and facilities for Qatar’s youth, also contributed to QFIB’s summer internship program by delivering workshops that enhance the students’ communication and leadership  skills

Emad Mansour, CEO, Qatar First Investment Bank commented, “In-line with the Qatar National Vision 2030, which aims to sustain a knowledge-based economy, QFIB is dedicated towards cultivating a highly skilled workforce by investing in national talent. Our summer internship program is designed to provide an enriching learning experience, to the students and equips them with crucial business and banking fundamentals.”

Saeed Al Naimi, one of the students who completed the summer internship program said “I’d like to thank QFIB for offering us this great opportunity to experience how an investment bank operates. During the internship I learned about the different departments in the bank and their functions.  I also understood the difference between commercial and investment banks.  Our mentors were very helpful and tried to explain everything and answer our questions.”

The summer internship program complements the already existing QFIB Executive Program that targets university graduates.  This is a year-long comprehensive program which sees graduates gain in-depth knowledge and banking expertise by working closely across all QFIB’s departments.

QFIB, in partnership with Dubai-based MENA Private Equity Association, is organizing a roundtable addressing the growing importance of SME’s to the region’s economic development, the challenges they face and the role of Private Equity in facilitating this growth.

Qatar First Investment Bank (QFIB), in partnership with Dubai-based MENA Private Equity Association, is organizing a roundtable addressing the growing importance of SME’s to the region’s economic development, the challenges they face and the role of Private Equity in facilitating this growth.

The roundtable titled the ‘Challenges facing SMEs in the Region & the Role of Private Equity’ will be held on 21st May 2012 at the Al Sharq Hotel and Spa, Doha. A select group of experts, private equity practitioners and businesses from Qatar and across the region, will attend the invitation-only session.

With an aim to facilitate knowledge-sharing, the key points the roundtable will address include types of funding, exit-strategies, management support, legal structures and best-practice case studies in the SME industry in the region.

Stressing on the significance of SMEs in the region, Emad Mansour, CEO of QFIB commented, “Our aim through this roundtable is to exchange views and discuss in depth the important role SMEs are playing in driving the economic growth of the region.  We intend to highlight the legal and administrative frameworks required for SME’s to thrive and study the challenges facing SMEs in our region. We also aim to look into the different ways Private Equity can drive this sector’s growth and push them to outperform and generate significant returns.”

QFIB, Qatar’s first independent shari’ah compliant investment bank authorised by the QFC Regulatory Authority, takes special interest in the SME sector. It aims to play a significant role in fostering the SME sector in Qatar.  Most recently it has provided guidance and support to the Qatar Business Plan Competition organized by Enterprise Qatar in their efforts to nurture entrepreneurship.

QFIB announces the sponsorship of the second annual Al Fikra Business Plan competition awards organized by Enterprise Qatar.

In line with Qatar First Investment Bank’s (QFIB)  commitment to encourage innovation and  contribute to the development of the SME sector in Qatar and the MENA region, the Bank  announces the sponsorship of the second annual Al Fikra Business Plan competition awards organized by Enterprise Qatar.

SME’s are vital contributors to the economy in general.  They play an important role in the diversification of income and creation of employment opportunities, specifically in a country like Qatar who is witnessing phenomenal growth rates across all sectors of the economy.

Aimed at developing a national culture of entrepreneurship, the key objectives of the competition include encouraging innovation and providing young entrepreneurs with professional guidance from industry experts.

Emphasizing the important role SME’s play in the growth of Qatar’s economy, Emad Mansour, CEO of QFIB and member of the judging panel of the final session of the Al Fikra competition commented, “We are proud to support Enterprise Qatar in their mission to develop the SME sector in Qatar.  As an investment bank, our mandate is to nurture and advance business ideas that have potential for growth.  This competition creates the right platform to inspire innovation and encourage entrepreneurship.  QFIB supports such an initiative and commits the required resources to help innovative ideas get off the ground and accelerate their growth.”

While speaking about Enterprise Qatar’s primary role as a gateway to foster SMEs, Noura Al Mannai, CEO added, “We thank QFIB for supporting Al Fikra Qatar Business plan Competition and for sponsoring the awards of the winners, and thus, QFIB’s contribution has been instrumental in evaluating and providing sound financial advice to the contestants in the Al Fikra competition.  We are confident that with the valuable support of such prominent business entities we would be able to build on the success of the competition year after year.”

QFIB, Qatar’s first independent shari’ah compliant bank regulated by the QFC Regulatory Authority strongly believes in the undisputed role SME’s can play in driving the growth and development of the national  economy.  In this regard, QFIB in the near future will be organizing a roundtable discussion around the challenges facing the SME sector in the region