Capinnova partners with Islamic funds event
Manama, May 21, 2009
Capinnova Investment Bank, the Shari’a compliant investment banking arm of Bank of Bahrain and Kuwait (BBK), has extended support to a major international Islamic funds and capital markets conference.
The 5th Annual World Islamic Funds and Capital Markets Conference will take place on May 26 and 26 at the Gulf Hotel in Bahrain. Capinnova is one of the Gold strategic partners for the event.
“We are proud to be associated with the 5th Annual World Islamic Funds and Capital Markets Conference in Bahrain,” said Jamal Hijres, Capinnova Investment Bank’s chief executive officer.
“We are confident about the Islamic finance industry’s future and we are one of the prime examples to support that confidence as our bank was launched in January 2009,” he added.
“We will continue to support such industry events where large group of Islamic Banking experts gather to propel the industry forward.”
Capinnova’s core areas of business include private equity, asset management and corporate finance and the bank hopes to close its first deals during the first half of the year.
The bank develops Shari’a compliant investment products and services for financial institutions, corporate customers, high-net-worth-individuals, investors and family businesses, regionally and globally.
“Capinnova’s vision is to be a world class Islamic investment bank offering a range of high quality products and services to a diverse clientele,” Hijres continued.
“Our mission is to become the Islamic investment bank of choice and a niche player, providing clients in the GCC and Mena region with superior investment products aimed at building and sustaining shareholder value, whilst maintaining an optimal balance between risks and returns. We are confident about the Islamic finance industry in the region and we predict that it will gather momentum by end of 2009,” he added.
Capinnova will provide a variety of products, including murabaha, ijara, mudaraba, musharaka, al Salam and istitsna'a, restricted and unrestricted investment accounts, syndications and other structures used in conventional finance, which have been appropriately modified to comply with Shari’a principles.
“The growth of Islamic banking industry in particular has been remarkable in recent years and we have observed a significant growth pattern in the industry within the GCC and across the globe. Capinnova Investment Bank aims to leverage on this exponential growth and further strengthen the Islamic Banking industry in Bahrain and across the region,” Hijres concluded.
Capinnova is licensed by the Central Bank of Bahrain; the bank is well capitalised and is wholly owned by BBK. Capinnova has an authorised capital of $500 million and paid-up capital of $125 million. – TradeArabia News Service