Barwa Bank names new head of capital financing

DOHA: Barwa Bank , Qatar’s fastest growing Shariah-compliant banking service provider, has announced the appointment of Arsalaan Ahmed as its Head of Capital Financing.

Barwa Bank names new head of capital financing

Barwa Bank names new head of capital financing

Ahmed will be focused on managing the growth of the bank’s sukuk, syndicated finance, project finance and structured finance product offering. Ahmed is an ex-HSBC Group International Executive specialising in Islamic finance and has held multiple roles for the Group across Europe, Asia and the Middle East.

“We are very pleased to have Arsalaan join us at Barwa Bank to spearhead a strategically important part of our business. Being able to provide a range of Capital Financing solutions to customers locally and internationally is important to us,” said Khalid Al Ahbabi, General Manager, Wholesale Banking at Barwa Bank . 

http://www.zawya.com/story/Barwa_Bank_names_new_head_of_capital_financing-ZAWYA20131121043243/

Barwa Bank offering three-year, capital protected Islamic notes

Barwa Bank offering three-year, capital protected Islamic notes

Barwa Bank is offering a “unique” Shariah-compliant three-year capital protected notes linked to the Turkey and Indonesia equity markets until June 21.

“The Turkey Indonesia Equity Capital Protected Note is an investment opportunity for investors seeking potentially higher returns with 100% capital protection.

The growth is based on the performance of a selected basket of stocks in two high growth emerging markets- Indonesia and Turkey.

The investor will receive at maturity, 100% of his/her initial investment plus an indicative 80% of the positive performance (semi-annual average) of the underlying basket of stocks,” Barwa Bank said.
The minimum investment required is $25,000. The Turkey Indonesia Equity Capital Protected Notes are issued by Morgan Stanley

The note is a fixed term investment, so the investor should be prepared to hold their investment for the full three year term.

The offer may close earlier (than June 21) if oversubscribed, the bank said.

Applications for the capital protected notes can be obtained at any Barwa Bank branch in the country.
Barwa Bank head (private banking) Aicha Meddah said: “This is a great opportunity to invest in the growth of two rapidly growing markets – Turkey and Indonesia, while receiving 100% capital protection over the next three years, a continuing priority for many investors.

“A key advantage compared to other capital protected products is the volatility controlled strategy and the provision for periodic re-balancing.”

Barwa Bank head (Retail) Hussain al-Abdullah said, “The Turkey Indonesia note reflects Barwa Bank’s strategy of providing customer driven wealth management solutions.

“Together with this investment opportunity and other initiatives, we are presenting wide a range of banking and investment products that meet our customers’ financial needs in accordance with Shariah.”

URL: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=509654&version=1&template_id=48&parent_id=28

Qatar Islamic Bank to buy IBQ's Islamic assets

Dec 28 (Reuters) – Qatar Islamic Bank will acquire the sharia-compliant corporate portfolio of International Bank of Qatar(IBQ), the Islamic lender said on Wednesday.

The agreement will see IBQ’s Islamic corporate financing facilities and its deposit accounts transferred to Qatar’s largest sharia-compliant bank by assets, according to a statement.

No value for the acquisition was given.The move comes ahead of the Dec. 31 deadline, imposed by the Qatar central bank, for conventional banks to stop offering sharia-compliant banking services amid worries of overlaps between the two.

The ban, announced in February, calls for conventional institutions to close their Islamic banking arms – although they could continue to manage existing assets beyond the deadline.

In August, IBQ sold the retail portion of its Islamic banking operations to Barwa Bank, the first such sale of assets by a conventional bank since the edict.

IBQ is 30 percent owned by the National Bank of Kuwait , Kuwait’s biggest lender.QIB’s shares closed down 0.1 percent, before the announcement came.

http://www.reuters.com/article/2011/12/28/qib-ibq-idUSL6E7NS0XC20111228