Capinnova Investment Bank

Capinnova is back in the black

Capinnova Investment Bank went back into the black last year. The bank had a net profit of $86,000 for the fourth quarter compared with a net loss of $2 million for the same period in 2010.
Chairman Abdul Kareem Bucheery noted that they will continue to capitalise on these opportunities in 2012 and the following years by introducing good Islamic banking products that meet our investors requirements and expectations. He added that Islamic banking industry in Bahrain is one of the important sectors with an array of opportunities that are yet to be exploited.

Capinnova Investment Bank announces second quarter results

Capinnova Investment Bank reported a net profit of $806,000 for the 3 months ended 30th June 2011 as compared to a net profit of $159,000 for the same period in 2010. Moreover, the bank had a growth of 24.3% in net profit for the 6 months ended 30th June 2011 compared to the same period during the previous year.
Capinnova's aim is to be a world class Islamic investment bank offering a range of high quality Shari'a compliant products and services to a diverse clientele including financial institutions, companies & establishments, high-net-worth-individuals and family businesses, regionally and globally.

Bahrain will continue to be one of the largest financial centres in the region, says Capinnova Investment Bank CEO

Jamal Hijres, Chief Executive Officer at Capinnova Investment Bank, has the strong belief that Bahrain will continue to be one of the leading financial centres in the region due to the efficient regulatory policies adopted by the sector.
He added that Bahrain has tremendously benefited from the solid foundations laid by the country’s efficient economic and financial policies outlined over the preceding years.

Capinnova to finance Mecca project

Capinnova Investment Bank, the Shari'a compliant investment banking arm of BBK offered a $16.5m bridge financing facility to support the financing of a religious hospitality project in Mecca. The project consists of a hotel located 1.3 km away from the Haram.
The development is in the final stages of completion and will be the first of its kind providing Muslims worldwide an opportunity to have an interest in Mecca project. The creative structure enables foreign investors return from a hotel asset in the holy city of Mecca through investing in a Cayman Island.

BBK launches Islamic investment banking arm

Andy Sambidge reported on 13 January 2009 in Arabianbusiness on the launch of the Sharia compliant Capinnova Investment Bank by The Bank of Bahrain and Kuwait. It is licensed by the Central Bank of Bahrain and has an authorised capital of USD 500 mn and paid-up capital of USD 125 mn. Capinnova’s core areas of business will include private equity, asset management and corporate finance.

Capinnova’s chairman is A. Karim Bucheery. CEO is Jamal Hijres.

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