Tadhamon Capital set for Bahrain launch
Manama, October 7, 2009
Tadhamon Capital, a wholly-owned subsidiary of Yemen's largest bank Tadhamon International Islamic Bank (TIIB) and one of the newest Islamic investment companies in Bahrain, is all set for its official launch in the Kingdom this month.
The company was licensed by the Central Bank of Bahrain as a category 1 investment company last year and commenced operations during the last quarter of 2008.
It is the first investment company in Bahrain fully owned by Yemeni shareholders and is poised to open the doors to greater two-way investments between GCC and other Mena countries and Yemen.
TIIB is majority owned by a large and highly reputed Yemeni conglomerate, Hayel Saeed Anam & Co (HSA) Group, with Qatar Islamic Bank also as a prominent shareholder.
Established in 1938, HSA Group of companies is one of the largest and premier business conglomerates in Yemen with business activities spread across a diverse geographic region including Europe, Asia, the GCC and North Africa.
The HSA Group pays special attention to social development and effective participation in the economic growth and development of the countries in which it operates.
TIIB offers Islamic banking and investment services to a broad demographic of customers in Yemen and abroad. TIIB most recently set up a bank in Indonesia and is reviewing a number of other opportunities in South Asia and the Mena region.
Tadhamon Capital’s vision is to become a leading financial institution that promotes Islamic finance on a global level by providing its investors with attractive, diversified and innovative Sharia’a compliant solutions, said a TIIB statement.
Focusing initially on the management of existing assets of its shareholders, the Company aims to structure, launch and manage new investments and products across its main business lines which include Asset Management, Private Equity, Real Estate, Treasury and Wealth Management.
The company’s specialist Asset Management Team will manage high-net-worth and institutional investors’ funds as well as proprietary investments, while ultimately protecting and enhancing client wealth, it said.
Asset Management will build on the vision of Tadhamon Capital to offer its investors attractive, diversified Shari’a compliant solutions in order to optimize their returns. These solutions include: Discretionary Portfolio Management, Mutual Funds, and Structured Products.
Tadhamon Capital will play an active role in arranging real estate transactions including acquisition, sale and development across various conventional and non-conventional classes of real estate, the statement added.-TradeArabia News Service