IslamicFinance.de

In a press release the consulting firm Oliver Wyman gave insights into their report "The Future of Private Banking - A Wealth of Opportunity".

Wealth held by high net worth individuals in the GCC - those with investable wealth of more than $1 million - is expected to grow from USD 2100 bn in 2007 to USD 3.800 bn by 2012. Annual growth is expected to slow down from previously 11 % to 9 % over the next 5 years.

Globally an estimated 16% of HNWI wealth was held offshore in 2007 while for the Middle East an estimate 52% is given in the press release. However, this is countered by a strong trend amongst the GCC's richest to repatriate wealth and invest in regional assets.

The scarcity of talent - skilled and experienced client relationship managers - is also a challenge in the Middle East, with dedicated on-the-ground coverage teams needed for billionaire families and top UHNWIs.

About Oliver Wyman www.oliverwyman.com

Full Press Release: http://www.arabianbusiness.com/index.php?option=com_pressreleases&view=d...

Ulf Laessing reported in ArabianBusiness on 27 March about NBK Capitals plans to arrange Sukuk issues worth up to USD 700 mn in 2008 and to finalise four purchases for a Private Equity Fund.

The article confirms the slow down due to the credit crisis and that the pricing does not meet the clients requirement easily.

Further the company is buying into a car leasing company in Saudi, according to the Head of investment and merchant banking, Amjad Ahmad. It also aims to open offices in Qatar and Saudi-Arabia next year. It is operation in Turkey and interested in Syria.

NBK Capital operates currently in Kuwait and Dubai and focusses on mid-range deals in the triple-million dollar digit range.

Source: http://www.arabianbusiness.com/514909-nbk-capital-plans-700mn-islamic-bo...

John Irish reported on Monday, 24 March in ArabianBusiness that Dubai-based mortgage lender Amlak Finance plans to sell as much as 1.8 billion dirhams convertible and 3 billion dirhams non-convertible Sukuk this year to help finance expansion.
 
The CEO, Arif Al-Harmi confirmed the approval to Reuters given by the extraordinary general meeting of the board and the Chairman, Nasser Al-Shaikh, revealed that the total plans are to raise 6 billion dirhams this year. Amlak, an affiliate of Emaar Properties, will launch operations in Qatar and Jordan this year and has applied for a licence in Bahrain, Al-Harmi said. Syria is in discussion state.
 
Amlak delayed a sale of Sukuk late 2007 because of unsecure demand situation caused by the US credit crisis.
 
Source: http://www.arabianbusiness.com/514474-amlak-to-sell-islamic-bonds-worth-...