DOHA: Qatar First Bank , a leading Shari’ah compliant bank based in Qatar and listed on the Qatar Stock Exchange (QSE), has been recognised as the ‘Best Shari’ah Alternative Investment Platform’ for 2016 by ‘Wealth & Finance’ in this year’s ‘Alternative Investment Awards’.
The 2016 Alternative Investment Awards honours the dedicated individuals and businesses that are making a positive impact in a constantly-evolving marketplace and puts the spotlight on key players in the sector, following a comprehensive selection and judging process designed to single out the true market leaders of 2016.
Commenting on winning the prestigious award, Ziad Makkawi (pictured), Chief Executive Officer of QFB, said: “With investors being on a quest for more creative ways to maximise their returns, Qatar First Bank is constantly refining and developing its services to honor investors’ ever-changing needs and exceed clients’ expectations. Being recognised as the ‘Best Shari’ah Alternative Investment Platform’ for 2016 is a testament to the bank’s exceptional performance in the industry, and reflects our new strategy of offering our private equity expertise to investor clients.”
The celebrated award crowns QFB’s positive performance in 2015 and 2016, during which the bank introduced an ambitious growth strategy, in addition to achieving significant milestones including the listing of shares on the Qatar Stock Exchange in April 2016.
Commenting on the award, Ihab Asali, Managing Partner - Alternative Investments at QFB, said: “QFB’s initial focus was driven by its legacy mandate to invest its capital by originating proprietary deals in private equity and real estate. Since the inception of its business operations in 2009, QFB built a strong track record by investing in several successful transactions across various geographies and sectors and realizing lucrative returns for its Shareholders. Over the years, the Bank has evolved from an in-house investment focused bank to a client focused bank.”
The Alternative Investments business segment at QFB primarily focuses on acquiring controlling or non-controlling interests, with board representation, in well managed companies and assets that have strong established market positions and growth potential.
QFB’s current portfolio of alternative investments include healthcare, energy, consumer finance, real estate, industrial, retail, luxury jeweler, food & beverage; spread across a diversified geography. The team consists of more than 10 experienced investment professionals, who work as partners with the management teams of the Investee Companies and Subsidiaries to unlock value through enhancing operational and financial performance in order to maximize returns for these companies, the Bank, and QFB clients.
Since its incorporation, the Bank has closed a number of successful transactions across Qatar, Turkey, the United Kingdom, Africa and the MENA region with carrying value of total equity investments (including subsidiaries) of QR1.73bn as of 30 June 2016.
Commenting on the award, Samir Assaad, Managing Partner - Alternative Investments at QFB, said: “QFB’s strategy focuses on the bank’s role as a trusted advisor, a gateway for investors who wish to tap into innovative, Shari’ah compliant, investment opportunities in local, regional and global markets. During 2016, we will continue to diversify our portfolio and focus on business services, healthcare, education and real estate sectors while expanding into new geographical markets regionally and internationally.”
The Peninsula
