Qatar First Investment Bank

QFIB & Gulfmena launch Tebyan Asset Management

Qatar First Investment Bank and Gulfmena Investments Limited launch Tebyan Asset Management Limited will look to be authorised and regulated by Qatar Financial Centre Regulatory Authority.
Tebyan will mostly be based on serving Islamic institutions, family offices, large family money, UHNWIs and HNWIs whose assets are often allocated to MENA/GCC with some global investment allocations spread over different asset classes.
Haissam Arabi, Gulfmena's CEO, will run Tebyan.

Arabic calligraphy exhibition opens

Dr. Ghaith bin Mubarak al-Kuwari, HE Minister of Awqaf and Islamic Affairs, started an exhibition for Arabic calligraphy (Al-Jood Exhibition) by the internationally renowned artist Sabah Arbili, at the Cultural Village (Katara).
The organisers are: Qatar Islamic Cultural Centre (Fanar), Reach Out to Asia (Rota) and the management of the Qatar First Investment Bank.

QFIB unit signs Dh250m Islamic facility

Qatar First Investment Bank gave the announcement that its portfolio company Emirates National Factory for Plastic Industries (ENPI) has signed a new five-year, Dh250m syndicated Islamic facility, arranged by Abu Dhabi Islamic Bank. The signing ceremony took place at Abu Dhabi Islamic Bank headquarters in Abu Dhabi.
The financing will be used for the construction of a new production facility in Industrial City of Abu Dhabi 1 ("ICAD 1"), the purchase of new machinery and equipment and the refinancing of a portion of the company's existing conventional debt.

Crisis-hit Islamic funds set for recovery

he asset management side of Islamic finance, which has been at a virtual standstill in the $1 trillion industry, is set to break out of its rut as demand rises for investment products catering to Muslim laws.
There are signs that investment managers are slowly moving to tap demand for Islamic products. Qatar First Investment Bank and Gulfmena Alternative Investments last week unveiled plans for a sharia-compliant asset management firm.
Islamic investment products are commonly perceived to underperform conventional asset classes due to restrictions on investment avenues and the overall conservatism of portfolios. But the MSCI World Islamic Index has managed to outperform the conventional MSCI World Index over the last 13 quarters due to its focus on low-debt companies and non-financial stocks.
The global financial crisis added risk aversion to the mix, with institutions becoming shy about investing in new funds.

Bank in new Islamic investment initiative

Qatar First Investment Bank (QFIB) and specialist regional asset manager Gulfmena Alternative Investments plan to set up a Shariah-compliant asset management firm to tap into rising demand for Islamic investment products.

QFIB to launch a one-stop Shari'ah compliant asset management company

Qatar First Investment Bank is co-launching with Gulfmena a unique, one-stop Shari'ah compliant asset management company. The new asset management company is expected to launch in fourth quarter 2010.

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.

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