Category: News

CEO to participate in panel discussion on strategies for private equity and capital growth in the MENA region

Qatar First Investment Bank (QFIB), Qatar’s independent Islamic investment bank, today announced its sponsorship of and high-level participation in the MENA Private Equity Business Summit 2011, which will be held on the 11th – 13th of September at the Al Murooj Rotana Dubai, UAE.

QFIB CEO Emad Mansour, and QFIB Managing Director & Head of Corporate Finance Shadi Zubeidi will be among 60 expert speakers of CEOs, Chairmen and senior executives attending and participating in this Summit.

The Summit, held in association with CNBC Arabiya, will provide in-depth insight into the latest regional developments and growth opportunities of the PE industry focusing on major issues including value creation, building business confidence and identifying investment opportunities and strategies.

“Whilst the financial crisis slowed down the appetite for PE deals, the Arab spring will certainly create more opportunities for investments due to better corporate governance and transparency” commented Mansour. “We are pleased to support this summit as Event partners. This is the ideal platform to exchange views and gain insights from other experts in PE space”.

Mansour will be participating in a CEO roundtable entitled The Investment Outlook for MENA Businesses, Private Equity and Growth Capital. The discussion will tackle a number of topics including performance of MENA funds, the value of local funds versus global funds, anticipation of spend in MENA infrastructure, health, energy and education sectors. It will also look at ways of financing and preparing for future opportunities; addressing the contained investment flow conundrum and deployment of stagnant funds. The roundtable will be televised live on CNBC Arabiya and moderated by the channel’s Special Business Correspondent, Hisham Al Ayass.

Zubeidi will be participating in a panel discussion entitled Recalibrating portfolios and the use of Strategic M&A where he will share his 14 years of experience in investment banking and corporate finance advisory in the Middle East. Zubeidi will also be highlighting some of the key concerns regional corporations face when considering M&A activity and speaking about value creation through asset divestment for large and medium-sized corporations and family businesses.

QFIB yesterday commenced its ‘Ramadan Blessings Campaign’ by hosting its third annual iftar for the children of the Dhreima Qatar Orphan Foundation at Katara.

Qatar First Investment Bank (QFIB), the leading independent Islamic investment bank, yesterday commenced its ‘Ramadan Blessings Campaign’ by hosting its third annual iftar for the children of the Dhreima Qatar Orphan Foundation at Katara. The iftar is the first of several community-based activities in which QFIB management and staff will take part in to promote solidarity and brotherhood during the Holy month of Ramadan.

After breaking their fast in a festive atmosphere, Dhreima’s children and QFIB employees had a unique opportunity to participate in an art workshop conducted by Sabah Arbili, the world- renowned British calligrapher, who volunteered his time to engage the children in colouring an art piece he had specially designed for the occasion.

Khalid Kamal, the general director of Dhreima Qatar Orphan Foundation said, “We thank QFIB for their support. This is the third year they host an iftar for our children. This is a clear testimony to the Bank’s commitment to upholding Shari’ah principles and Islamic teachings not just in their day-to-day business activities but also in their community initiatives. We also thank Sabah Arbilli for volunteering his time to help the children gain a better understanding into the different forms of art.”

“We are pleased to host the Dhreima children for the third consecutive year as part of our Ramadan Blessing Campaign. It is through long term relationship building that we, as an Islamic institution are able to engage our employees with the local community and contribute to its welfare. This year, we were delighted with the presence of Sabah Arbilli who has kindly contributed his unique talent in the art of calligraphy to teach the children some art techniques.” said Emad Mansour, Chief Executive Officer of QFIB.

Arbili was recently showcasing and auctioning his work at “AlJoud Exhibiton” which was organized by Qatar Islamic cultural center “Fanar” at Katara earlier this year in April . The exhibition was supported by QFIB and proceeds went towards funding Reach Out to Asia’s educational projects in Pakistan.

“It is a pleasure to be back in Qatar once again and to see such an appreciation for art, community life and tradition and social welfare. I am honoured by the opportunity to share my work with such exceptional children and grateful for QFIB’s unrelenting support of these initiatives,” said Arbili.

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 has kicked off its annual Ramadan Blessings campaign by announcing the sponsorship of Reach Out To Asia Ramadan 2011 Project

Qatar First Investment Bank (QFIB), the leading independent Islamic investment bank, has kicked off its annual Ramadan Blessings campaign by announcing the sponsorship of Reach Out To Asia Ramadan 2011 Project. QFIB and ROTA will jointly organize several community-based activities during the Holy month of Ramadan in order to promote solidarity and brotherhood. In addition to providing financial support, the Bank will pledge the time of its employees who will actively volunteer in ROTA’s projects.

ROTA is the Qatar-based, non-profit organization that empowers local communities by providing access to primary and secondary education for underprivileged children across Asia through the development of quality sustainable educational projects. Established in 2005, ROTA is chaired by H.E. Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani and operates under the auspices of Qatar Foundation for Education, Science & Community Development.

“We are honored to have the support of Qatar First Investment Bank, a leader in Islamic investment banking and a valued member of the Qatar community,” said ROTA Director, Essa Al Mannai. “It is through the valued support of sponsors like QFIB that ROTA is able to develop an inclusive approach to community development based on the principles of equity, empathy and interactive participation.”

As a leading non-profit organization, ROTA actively serves local communities in Qatar through a number of volunteer-led projects. The Ramadan 2011 project, “ROTA Reaches out to All Children” is aimed at engaging children from all walks of life in Qatar. QFIB’s sponsorship includes financial and volunteer support of Iftars with community-based organizations including; The Elderly Institute, as well as support of Garangaou night and the House Renovations project. QFIB’s Ramadan Blessings campaign will also include hosting an Iftar for the children of Dhreima Qatar Orphan Foundation.

Emad Mansour, Chief Executive Officer of QFIB commented: “This is the third consecutive year for our Ramadan Blessings Campaign and we are keen to join hands with ROTA and support their Ramadan 2011 Project. As an Islamic institution we are committed to engaging the local community and contributing to its welfare, especially during the holy month of Ramadan where it is the custom to reach out to the less unfortunate. Our Ramadan Blessing campaign, which includes supporting ROTA’s many planned activities, will provide us with a unique opportunity to give back to our community and to further encourage our dedicated employees to embrace the charitable spirit of the Holy month.”

QFIB announced the acquisition of a US$16 million stake in Kuwait Energy Company

Qatar First Investment Bank (QFIB) announced the acquisition of a US$16 million stake in Kuwait Energy Company, a leading Middle Eastern independent oil and gas exploration and production company headquartered in Kuwait. The stake was acquired from an existing shareholder and marks QFIB’s second investment in the oil and gas sector.

The acquisition was announced at a press conference held at QFIB headquarters in Doha. The press conference was attended by Kuwait Energy Chairman and Managing Director Dr. Manssour Aboukhamseen, Kuwait Energy Deputy Chairman and Chief Executive Officer Ms. Sara Akbar, and QFIB Chief Executive Officer Mr. Emad Mansour.

Established in Kuwait in August 2005, Kuwait Energy has a proven track record of successes in oil and gas fields in the MENA region, has been profitable each year since inception, and has increased production and reserves each consecutive year. Recently, it announced it had signed gas development contracts for the Siba and Mansuriya gas fields in Iraq. The Company is focused on growth in the Middle East and North Africa region, where it has been successful in Egypt, Yemen and Oman, and has oil and gas assets in Ukraine, Latvia, Russia and Pakistan.

Commenting on the deal, Emad Mansour said: “This is our second investment in the oil and gas sector. We could not have selected a better opportunity. Kuwait Energy fits perfectly with our strategy of investing in growing companies with outstanding management. Kuwait Energy has already established itself as a leading player, with strong positions in promising markets such as Egypt and Iraq. Furthermore, Kuwait Energy’s operations in the MENA and Eurasia markets provide a unique gateway to access niche opportunities which we aim to capitalize on”.

Dr. Manssour Aboukhamseen said: “We are pleased to welcome QFIB to Kuwait Energy as a shareholder and advisor. QFIB has an excellent reputation as a leading investment bank in the region and enjoys a strong shareholder base. We aim to make the most of QFIB’s sectorial expertise, deep understanding of the MENA region and extensive network for further fund raising activities in the future.”

Kuwait Energy provides a unique gateway to opportunities in the Middle East and North Africa (MENA) region’s important hydrocarbon reserves with lower risks. Kuwait Energy has a high quality and diverse portfolio of oil and gas assets and is focused on exploration, production and development of reserves and resources. Kuwait Energy’s participation interests in oil and gas assets range between 15% and 100% depending on the asset type and stage of the project which balances the company’s risk profile. The Company currently operates 20 exploration and production leases, has interests in 33 others and announced a net profit of US$21.9 million for the financial year ending 31 December 2010

QFIB will support the forthcoming annual International Arab Banking Summit hosted by the Union of Arab Banks as a Platinum sponsor.

Qatar First Investment Bank (QFIB), the leading independent Islamic investment bank, will support the forthcoming annual International Arab Banking Summit hosted by the Union of Arab Banks as a Platinum sponsor.

This year’s summit is hosted by the Union of Arab Banks in association with Associazione Bancaria Italian in Rome, Italy on the 23rd – 24th of June. This year’s Summit is entitled “The Future of MENA: Impact on the Global Economy” and will provide a platform for ministers, governors of central banks, leading bankers, decision-makers and representatives of public and private sectors from various continents to meet and discuss issues of concern to the international banking community and the global economy.

The Rome Summit’s main objective is to showcase the impact of the current political uprisings on the EU-MENA relations and the broader Global economy, the importance of developing SME’s in addition to the developmental initiative resembled by the ‘Mediterranean Partnership Fund’ and the growth of Islamic Banking and finance and investment opportunities in the EU markets.

Each year the Union of Arab Banks nominates a key figure in the Arab financial industry as a recipient of the “Banker of the Year Award”. This year’s award will be presented to Sh. Abdullah Bin Saud Al Thani, Governor of Qatar Central Bank in recognition for his ongoing contribution to the development of the Arab Banking industry.

“We congratulate Sh. Abdullah Bin Saud Al Thani, Governor of Qatar Central Bank on his nomination for the “Banker of the Year Award” for 2011. This is a clear testimony to His Excellency’s dedication in promoting regulatory excellence in the financial industry in accordance to international best practices” said Emad Mansour, Chief Executive Officer of QFIB. “Sponsoring this summit reaffirms QFIB’s commitment to cooperate with other Qatari Financial institution to support the growth of the Arab banking industry in general and Islamic finance in particular” he continued.

The Summit is supported by the Ministry of Foreign Affairs of Italy, and it’s held with the collaboration of World Bank, the European Banking Federation and the World Union of Arab Bankers. Delegations from the Federal Reserve System Board, the European Banking Federation, Central Bank of Italy as well as the Basel Committee on Banking Supervision will participate in this year’s summit.

Through its plenary panel discussions, the IABS will focus on shaping some ideas, amidst the recent developments, about new areas of partnering which could put the Arab and international economies, businesses, and financial institutions on the right track towards sustainable growth and prosperity.