Tebyan Asset Management launches its first Shari’ah fund encompassing CHIME regions

Tebyan Asset Management (Tebyan), the joint venture asset management arm of QFIB announces today the debut of Tebyan CHIME Opportunities Fund (Fund)

Tebyan Asset Management (Tebyan), the joint venture asset managementarm of Qatar First Investment Bank (QFIB), Qatar’s independent Islamic investment bank, authorized by the QFC Regulatory Authority, announcestoday the debut of Tebyan CHIME Opportunities Fund (Fund), the first of its kind Shari’ah compliant product to offer investors a gateway into the New Silk Route, the new economic axis of the Arab-Indo-China regions.

Covering what is commonly known as CHIME (China, India, and Middle East); the new Fund will be operated by Tebyan, established and regulated in the Cayman Islands and co-managed by Gulfmena Investments (Gulfmena) as Investment Manager who will oversee the MENA and Africa investments and Lion Global Investors (Lion Global), who will oversee China and India. Launched in 2011, Tebyan is a fully integrated, Shari’ah-compliant asset management company that was established following QFIB’s strategic partnership with Gulfmena while Lion Global is a Singapore based asset management company with about US$21.5 billion in assets under management as at 30 September 2011 and a long impressive track record in managing assets in Asian Markets.

On the back of enhancing investment sentiment globally, Tebyan launches this new product with initial capital funding seeded by QFIB with the aim of fostering investor confidence and building a solid track record before marketing the fund to qualified investors. However, the Fund is an open ended fund, open to investors who wish to participate in the early stage. Moreover, the Fund will use as a benchmark the Dow Jones Islamic Market CHIME Index, launched last week by Dow Jones Indexes, a pioneer in the Islamic indexing space.

Recognizing the needs of the Shari’ah investment community for sophisticated guidance, Emad Mansour, CEO of QFIB said, “Whilst Tebyan plans to offer strategies covering other asset classes, we are confident about the prospects of equity markets in 2012. We have specifically chosen the CHIME region as it provides an attractive platform expected to generate sound returns. We are committing propriety capital to seed the Fund in hope that this will foster investor confidence in Tebyan’s debut product.” “By facilitating the global development of Islamic investment, our aim is to build a track record and show investors the compelling story behind this unique strategy in the months to come,” concluded Mansour.

HaissamArabi, CEO, Tebyan added: “We expect the global economy to recover by the second half of 2012. This will reflect positively on global equity markets specifically in emerging markets whose economies benefit from lower commodity and stable oil prices, growth from domestic activity and government spending. This makes the CHIME Opportunities Fund ideal for the comeback of the equity markets.”

Tebyan is a total solutions investment provider that combines both asset management and wealth management to serve the needs of the Islamic investment community.

After an initial and temporary offshore establishment, Tebyan will be headquartered in Qatar and is expected to get its license from the QFCRA in the first half of 2012

QFIB ventures into F&B Industry with strategic stake in Al Rifai, Middle East’s leading kernel and snacks giant

QFIB has acquired a 15% stake in Al Rifai International Holding (Al Rifai)

Qatar First Investment Bank (QFIB), Qatar’s independent Islamic investment bank, has acquired a 15% stake in Al Rifai International Holding (Al Rifai), a well-established and leading manufacturer of nuts, kernels, light snacks and delicacy in the Middle East and Europe.

The deal marks QFIB’s debut investment-venture in the food and beverage (F&B) manufacturing industry and demonstrates the bank’s commitment to sectoral diversification. Al Rifai’s wide presence in European markets also offers QFIB an opportunity to venture into new geographical regions.

Citing this venture as one of the Bank’s pioneering deals, Emad Mansour, CEO of QFIB commented, “We are very excited about our partnership with Al Rifai which is our first venture into the F&B manufacturing industry and our second investment in the industrial sector. From the outset our strategy was to focus on sectors that benefit from key drivers of economic change. Al Rifai is an award winning and market leader in the nuts, kernels, light snacks and delicacy business. It has consistently performed well over the years, diversified its product range and ventured into new markets; hence it is well positioned to take advantage of the rapidly growing global savory snack market which is expected to reach US$ 85.4 billion in 2012. We are very keen to work with Al Rifai management team to help the Group achieve its long term business objectives.”

Through representation on the board of directors, QFIB’s team will work closely with Al Rifai management at a strategic level to streamline business and drive future growth of the Group.

Well-positioned by the rising market confidence throughout the Middle East in the F&B sector , Mohamed Al Rifai, Chairman and CEO of Al Rifai International Holding commented, “We are very pleased to welcome QFIB as a shareholder in Al Rifai. Through QFIB’s strategic counsel, access to multiple sources of funding and risk management solutions, we are confident that Al Rifai will achieve its future expansion and growth plans. Our facilities are recipients of several international certificates including: ISO 22000, International Food Standards (IFS) and British Retail Consortium (BRC) Global Food Technical Standard. QFIB’s commitment to adopt international standards and processes complements our global vision and high standards of quality control.”

According to Euromonitor International the Middle East retail sales volume of sweet and savory snacks is positioned to grow by a phenomenal 21% between 2010 and 2014. Al Rifai’s annual turnover growth of 50% during 2011 and expected growth of 33% during 2012 is a clear testament to the company’s excellent performance and success.

Established in 2009, QFIB is authorized by the QFC Regulatory Authority. In 2011 QFIB was awarded the accolade of “Best Investment Bank in the GCC” by CPI Financial in their Islamic Business and Finance Awards.