Category: News

QFIB announced today the appointment of Abdulla bin Fahad Bin Ghorab Al Marri, Founder & Chairman of the bank, to the Executive Board of INJAZ Qatar for 2011

Qatar First Investment Bank announced today the appointment of Abdulla bin Fahad Bin Ghorab Al Marri, Founder & Chairman of the bank, to the Executive Board of INJAZ Qatar for 2011. Al Marri is the newest to join a dedicated team of INJAZ Qatar Board members that include representatives from the larger community and organizations including AMWAL, ExxonMobil Qatar Inc., Qatar Petroleum, HSBC, Qtel , Deloitte, Carnegie Mellon University, Al Khaliji, Blue Salon and Qatar Financial Centre.

Mr. Al Marri commented: “I am proud to join hands with a team of business leaders committed to inspiring and developing youth in Qatar. INJAZ’s unique model provides remarkable opportunities for Qatari youth to expand on their knowledge and develop business skills by offering hands-on experience through their many work readiness and entrepreneurship initiatives.”

INJAZ Qatar is a not-for-profit organization committed to inspiring and preparing youth to succeed in a global economy that has reached over 3000 young people in Qatar since 2007. In late October 2010, QFIB announced that ten of their senior managers would be volunteering to deliver INJAZ’s educational programs. Volunteers included the heads of various business units including finance, compliance, risk, IT and corporate communications, giving true cross-business representation.

“QFIB has long been committed to nurturing the growing talent in Qatar and providing our younger generation with the opportunities to be leaders in their community and country,” Al Marri continued. “I know that the QFIB team shares my enthusiasm in supporting, firsthand, the dedicated staff of INJAZ as they continue to encourage Qatar’s youth in developing business and leadership skills,” he concluded.

The strategic partnership with local and multinational businesses is a unique element of the INJAZ model. Each semester, business leaders send staff into schools, bringing their know-how and enthusiasm into the classroom. These professionals, become role models for students sharing their experience, know-how and success stories while motivating students to succeed.

Sheikha Hanadi N. Al Thani, Chairman of Injaz Qatar board, commented: “INJAZ is pleased to welcome Mr. Al Marri as a new board member. We are confident that his extensive experience in the banking sector and his commitment to the community will undoubtedly serve INJAZ and its stakeholders well. We are positive that with Mr. Al Marri’s participation, INJAZ Qatar will continue to attract more Qatari corporations to join this initative and prepare our youth for the workforce”.

QFIB has signed up as corporate volunteers to support INJAZ Qatar. Ten members of staff will volunteer to deliver Injaz’s educational programs.

Qatar First Investment Bank (QFIB), the non-affiliated fully Shari’ah compliant Investment bank licensed by the Qatar Financial Centre Authority, has signed up as corporate volunteers to support INJAZ Qatar. Ten members of staff will volunteer to deliver Injaz’s educational programs.

INJAZ Qatar is part of INJAZ al-Arab, an affiliate of Junior Achievement Worldwide, the world’s largest organization dedicated to educating students about entrepreneurship, work readiness, and financial literacy through fun, experimental, hands on programs.

Mike de Graffenried, QFIB CEO commented: “We are proud to support INJAZ Qatar in its endeavor to inspire a culture of entrepreneurialism and business innovation among Arab youth. As a corporate citizen, QFIB is committed to the education and development of Qatari youth. Partnering with Injaz will provide us with an opportunity to transfer our business skills and professional knowledge to the younger generation to help them become successful business entrepreneurs in the future.”

QFIB volunteers comprise heads of various business units in the bank including, finance, compliance, risk, IT, and corporate communications, giving true cross business representation. They will deliver Injaz courses which focus on work readiness, financial literacy and entrepreneurship.

Fayza Mehanna, INJAZ Principal Advisor for Qatar, added: “We are pleased to welcome QFIB as a corporate partner. Financial literacy is a core element of the programme and there is no doubt that the enthusiasm and expertise of QFIB volunteers will motivate students at all levels in developing their business and leadership skills. Participating students will have the opportunity to learn the way the financial sector operates from professionals who have many years of experience in the banking sector. And in a few years time these students will hopefully be the next financial innovators and entrepreneurs, who will take Qatar’s investment banking sector forward.”

The strategic partnership with local and multinational businesses is unique about the INJAZ model. Each semester business leaders send staff into schools, bringing their know-how and enthusiasm into the classroom. These professionals, become role models for students sharing their experience, know-how and success stories while motivating students to succeed.

QFIB and Gulfmena Alternative Investments Limited (GAIL) today announced a strategic partnership to establish a unique, one-stop Shar’’ah compliant asset management company

Qatar First Investment Bank (QFIB) and Gulfmena Alternative Investments Limited (GAIL) today announced a strategic partnership to establish a unique, one-stop Shar’’ah compliant asset management company. It will be the first of its kind in the region offering an unrivalled range of Islamic investment products and services.

Qatar First Investment Bank, based in Qatar and regulated by Qatar Financial Centre Regulatory Authority will own majority shares of the new asset management company, whilst Gulfmena Alternative Investments, an asset management company, based in Dubai and regulated by Dubai International Financial Centre (DIFC) will manage the investments. After an initial and temporary offshore establishment, the new company will seek to be authorised and regulated by Qatar Financial Centre Regulatory Authority and will have its own Shari’ah supervisory board.

The new asset management company, expected to launch in fourth quarter 2010, will offer a total solutions platform to meet the needs of the Islamic investment community. It will provide a fully integrated range of Shari’ah compliant products and services covering all asset classes and catering to qualified investors such as foundations, charitable organizations, Awqaf, Islamic banks, Takaful and Re-takaful companies as well as high-net worth individuals.

Clients will benefit from this strategic alliance by capitalizing on Gulfmena’s extensive knowledge in asset management, the team’s long track record in managing investments in the region, its product know-how, and its ability to bring new products and services to the market. They will also benefit from the expertise and network of QFIB which is one of the fastest growing Islamic investment banks in the region.

Commenting on the partnership, Emad Mansour, Deputy CEO and Chief Investment Officer of QFIB, said: “We are pleased to be partnering with Gulfmena Alternative Investments. By capitalizing on Gulfmena’s expertise in the field of asset management and our broad network, the new company aims to meet the increased demand for Shari’ah based products and services in the market.”

“Our vision for the new company is to place the Islamic investment universe within easy reach of all of our investors. It will present an optimal and constantly evolving asset allocation mix in order to capture viable investment opportunities with a keen eye on risk, compliance and reporting,” he concluded.

Haissam Arabi, CEO of Gulfmena said: “We are delighted to collaborate with QFIB in this new initiative. We could not have picked a better partner. QFIB shares our vision in offering a unique proposition for Islamic investors on the regional and international level.”

“We believe there is tremendous opportunity given the growth prospects of the Shari’ah compliant financial sector. We are looking forward to satisfy the investment and financial needs of this sector as it continues to be challenged by the lack of innovation in products and services.”

Qatar First Investment Bank concludes ‘Ramadan Blessings’ Campaign

Qatar First Investment Bank (QFIB) concluded its ‘Ramadan Blessings’ campaign on Monday by visiting children at Hamad Medical Corporation (HMC) to present them with gifts in celebration of Eid Al Fitr.

A group of QFIB staff led by CEO Mike de Graffenried visited the children’s ward at HMC to present the children with gifts on the occasion of the forthcoming Eid Al Fitr.

Mike de Graffenried, CEO of QFIB said: “Eid Al Fitr marks the end of the Holy month of Ramadan, the month of sharing and giving. This inspired us to celebrate this joyous occasion with the children at HMC with the aim of bringing smiles to their faces. QFIB encourages our staff to give back to the community especially during the Holy month. This visit concludes our Ramadan Blessings campaign, where our aim to make a difference in the community through our various good deeds.”

Director of Marketing & Public Relations at Hamad Medical Corporation, Abdulla Al Khalef said: “Eid El Fitr is a special and joyous occasion for everyone, specifically children. We would like to extend our appreciation and gratitude to QFIB for making this occasion more special for the children. This is a clear testament of QFIB’s commitment to the community.”

QFIB’s ‘Ramadan Blessings’ Campaign also included an Iftar for QFIB employees, families and friends. The Iftar, which was held at La Cigale hotel, was an opportunity for QFIB employees, with diverse cultures and traditions, to experience Ramadan together and mingle in an informal atmosphere. It was also an opportunity for QFIB to thank many of the contributing members of the Qatar community. The Iftar was well attended by QFIB employees and their families, members of the media and business associates.

Mike de Graffenried, CEO of QFIB said, “Ramadan is a month of solidarity and brotherhood. It is a time where we join together as one family and enjoy the spirit of the Holy month. QFIB’s annual Iftar, part of our ‘Ramadan Blessings’ campaign brings together our multicultural workforce under one roof and celebrates the spirit of team work.”

QFIB announced that along with ARGUS Capital acquired a 40% minority stake in Memorial Health Group (MHG)

Qatar First Investment Bank (QFIB) announced that along with ARGUS Capital, a London based private equity house, acquired a 40% minority stake in Memorial Health Group (MHG), one of the leading healthcare providers in Turkey.

MHG began operations in February 2000 and is among the top two ‘class A’ healthcare groups in Turkey, offering high quality service with well respected physicians and state-of-the-art equipment. MHG offers a full range of medical services covering 41 branches of medicine including, but not limited to, general surgery, cardiology, cardiovascular surgery, organ transplants, neurosurgery, and orthopaedics.

MHG’s main hospital complex is located in Okmeydani in Istanbul, a 55,000 square meter facility with a 214 bed capacity. In addition, MHG also operates two other complexes, one on the Asian side of Istanbul in Atasehir district with 114 bed capacity and the other in the Bahcelievler on the European side with a 148 bed capacity. MHG also operates a complex in Antalya in addition to two outpatient polyclinics both located in Istanbul.

A proven market leader, MHG was the first hospital to receive the Joint Commission International Accreditation in 2002 and has since renewed in 2005 and 2008. It was also the first private hospital to carry out liver and kidney transplantation and blood-type incompatible pediatric liver transplantation.

Commenting on the agreement, Abdullah Bin Fahad Bin Ghorab Al Marri, Chairman of Qatar First Investment Bank, said: “Healthcare is a key sector for QFIB. It is a growing sector in the MENA region and is resilient to economic downturns due to the necessity of the services. Turkey, being the largest Islamic country in Europe and the Middle East, is an extremely important market. The acquisition of a stake in Memorial Health Group, the leading Turkish healthcare provider with a growing number of patients nationwide, is a clear indication of our intention to diversify and establish ourselves in a number of key growth industries.”

“This is our second deal in the health care sector and we are confident that our stake in Memorial Health Group will result in significant growth. The company has a proven track record of success. Their market share and future plans make them exactly the type of company we look to invest in,” he concluded.

QFIB and ARGUS Capital were advised by Daruma Corporate Finance on this transaction, the leading healthcare advisory company in Turkey. As the originator of the deal Daruma Corporate Finance contributed to the success of this acquisition by aligning the interests of all parties concerned through the negotiation, due diligence and closing processes.

Turgut Aydın, President and Chairman of Memorial Health Group said: “We are pleased to welcome QFIB into the group as an investor and advisor. QFIB enjoys a sound reputation as a fast growing bank with a diverse shareholder base. Their experience and unique expertise will undoubtedly benefit Memorial Health Group as we endeavor to continue developing our offer in Turkey and abroad. QFIB shares our vision in maintaining MHG’s leadership position in the growing healthcare sector.”

Managing Partner of ARGUS Capital, Ali R. Artunkal commented, “We consider the investment in Memorial as our landmark entry to the Turkish market which we have been actively focusing on in the past three years, and we are excited about Memorial’s remarkable development and future growth potential which we shall work together with our partners, the Aydin Family, QFIB and Memorial’s management to realize.”