QFB celebrates Qatar National Sports Day

Family Sports Day to follow the successful month-long corporate wellness program

Family Sports Day to follow the successful month-long corporate wellness program

In the run up to 2nd Qatar National Sports Day on Tuesday 12 February 2013, Qatar First Investment Bank (QFIB), Qatar’s first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority, organized a month-long corporate wellness program for its employees.

The month long Corporate Wellness program was launched to encourage employees to embrace a healthy and active lifestyle in the spirit of the Qatar National Sports Day.   A professional fitness consultancy firm was engaged by QFIB to develop a tailor made wellness program which comprised a series of activities including a weight loss challenge, a weekly outdoor fitness activity and nutritional and health awareness seminar.

Encouraging a commitment to health and sports among employees, Emad Mansour, CEO, QFIB said, “We join the nation in celebrating the annual Qatar National Sports Day as well as the conclusion of our Corporate Wellness Program.  The concept of Qatar National Sports Day inspired us to develop our internal Corporate Wellness Program.  The aim of this month long initiative was to encourage our employees to adopt a healthy lifestyle that combines a balanced diet and regular exercise.   Studies have proven that regular physical activity can increase motivation and improve productivity.”

To mark the second Qatar National Sports Day QFIB will host an outdoor family event that will involve a series of sports activities that will include a mini-Olympics, fitness challenge competitions, and leisure games.

QFIB acquires a majority stake in Al Wasita Emirates for Services & Catering

QFIB announced the acquisition of a majority stake in Al Wasita Emirates for Services & Catering (“WES”), the UAE based total support services management firm.

Qatar First Investment Bank (“QFIB”), Qatar’s independent Islamic investment bank authorized by the QFC regulatory Authority , announced the acquisition of a majority stake in Al Wasita Emirates for Services & Catering (“WES”), the UAE based total support services management firm.

The acquisition, in the form of a management buyout, marks QFIB’s third deal in the Industrial sector and reaffirms the bank’s investment strategy which focuses on sectorial and geographic diversification.

QFIB’s acquisition establishes WES as the first Shari’ah compliant service management company in the UAE.

Commenting on this acquisition, Abdulla Bin Fahad Bin Ghorab Al Marri, QFIB Chairman said: “This is our fourth venture in the UAE market. We are pleased to add Al Wasita Emirates to our portfolio of companies. As the MENA region continues its rapid development, without any doubt there will be a huge demand for the type of services Al Wasita Emirates offers”.

Emad Mansour, CEO of QFIB commented, “Al Wasita Emirates has a unique business model with positive growth prospects. Over the years it has managed to significantly grow its share in the UAE market by offering a suite of support services targeting a range of sectors. Our aim is to drive the growth of the company and increase its geographical reach by leveraging on our network of contacts in the MENA region and Turkey”.

Founded in 2008, WES has since then grown to become a leading company in the UAE providing turn-key support solutions to a range of sectors including oil and gas, military, healthcare, education, construction and corporate. WES services extend from contractual catering, to facilities management, supply & logistics, cleaning & laundry as well as leisure & property services. WES is led by a group of managing owners and Chaired by Eng. Mohammed Mubarak Ali Al Mazrouei.

Raed Yaghanm, CEO of Al Wasita Emirates commented, “We are pleased to welcome QFIB as an equity partner and are proud of the fact that we are now the first Shari’ah compliant service management company in the UAE and probably in the region. Our partnership with QFIB has come at an opportune time as the MENA region enters into a new phase of development. With more projects emerging in neighboring countries there is a definite need for qualified and experienced total support providers. We are confident that with the guidance of our chairman and QFIB’s support we will be able to expand WES’s footprint in the region and contribute to the further success of the Al Wasita Brand”.