23 January 2017

Foursan Group, a leading Middle Eastern private equity firm, announced today the successful exit by its fund, Foursan Capital Partners (“FCP”), of its investment in Jordan Dubai Islamic Bank (“JDIB”), a premier Islamic banking institution listed on the Amman Stock Exchange.

FCP was the second largest shareholder of JDIB and sold its stake to Bank Al-Etihad, a leading, publicly-listed financial services institution, realizing a gross equity multiple of 2.5x on the sale.

Since FCP invested in JDIB, the bank has significantly grown its market share, balance sheet, profitability and operations, increased deposits by over 3.5x and ramped up its branch network from 11 to 24 branches.

Commenting on the transaction, Shahm M. Al-Wir, a Partner with Foursan Group, stated: “We are pleased with this transaction and the strong returns we generated for our investors. JDIB is a pioneering bank that is growing strongly and has revolutionized the Jordanian Islamic banking market with its novel practices and products. We wish it and their new partners, Bank Al-Etihad, all the best in the future.”

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About Foursan Group
Foursan Group is a leading Middle Eastern private equity firm. The JDIB investment was made through Foursan Capital Partners, whose portfolio includes six other companies operating throughout the MENA region in diversified sectors including confectionaries and retail; conventional financial services; food production; hospitality and restaurants; logistics; and renewable energy.

About Jordan Dubai Islamic Bank
Founded in 2010, Jordan Dubai Islamic Bank is a publicly-listed company on the Amman Stock Exchange (Ticker: JDIB). Over the past 7 years, the bank has established itself as a premier Islamic banking institution serving a growing and diverse portfolio of corporations and individuals. In March 2016, the bank received the King Abdullah II Award for Excellence – Private Sector.

© Press Release 2017