International Venture Capital Post

Bahrain's GFC formulates new business model

The Gulf Finance House of Bahrain said that it is hoping to receive more active investments to salvage the investment firm's falling figures. A new business model was proposed which consists of new strategy calls such as better involvement with the investments that the firm creates, and better decision making on projects which are in development. Previously, the GFC passed such projects to third party developers without considering to halt their completion. The firm's acting chief executive Hisham Al Rayes said that they were now looking at fundamentals and more calculated risks. Instead of using sub-developers the company is now going vertical in the development of its projects.

QIB CEO Bassel Gamal Says No More Need for Sukuk Issues

Qatar Islamic Bank is not expecting to issue more Islamic bonds before 2014, according to its Chief Executive Officer Bassel Gamal. The CEO said that there seems to be enough liquidity currently. Last October, it tapped the bond market with a US$750 million five year sukuk bond issue. This is part of the overall sukuk programme of the bank valued at US$1.5 billion. Gamal added that local currency sukuks would be expected to be issued in the coming years. He also said that many countries encourage local issuances of sukuk, such as Saudi Arabia and Malaysia.

Saudi Electric Chooses Banks for Sukuk

Saudi Electricity Co has chosen Deutsche Bank and HSBC Holdings to schedule meetings with fixed income investors from Europe and North America for possible debt agreements. The meetings would be considered as road shows, with the first to be held on March 19 in Los Angeles, CA and would end in London, UK by March 25 of this year. After these road shows, a dollar denominated bond issue would then follow depending on market conditions.

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