Tadhamon Capital announces $28.6 million profit in its first year

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Manama, Bahrain: Tadhamon CapitalTadhamon Capital, a category 1 Islamic investment company based in Bahrain, has announced a net profit of US$28.6 million for its first period of operations from 15^th September 2008 to 31^st December 2009. Total revenues for the period amounted to US$34 million, including fee income of US$30.3 million from arranging transactions and managing portfolios for clients, while profits from proprietary investments contributed US$3.7 million. Total operating expenses for the period, which included one-time initial set-up costs, amounted to US$5.4 million.

Commenting on the results, the company Chairman Abdulgabbar Hayel Saeed said: "We commenced our business at a time when the world was gripped by the worst financial crisis in a century. In spite of the difficult challenges, we are extremely pleased with our performance. The company has achieved outstanding results due to its ability to source superior investments for its clients who have vested their deep faith in our abilities." Mr. Saeed expressed his sincere gratitude to the company's clients, the regulatory authorities in Bahrain, and to the company's employees for their steadfast commitment.

Tadhamon CapitalTadhamon 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. Its principal business activities include arranging, structuring and managing new investment products across its main business lines which include Asset Management, Private Equity, Real Estate, Treasury and Wealth Management.

During its first period of operations, the company successfully arranged major property acquisition and development projects in Saudi Arabia and other GCC and North African countries. Besides, the company has recently launched a regional equity fund to invest in listed stocks, and will shortly be launching a Sukuk fund and two other private equity funds. Client assets managed by the company have already exceeded US$ 600 million.

Mr. Rashdan explained the company's business model which is focused on identifying the best investment opportunities and working with key strategic partners to tap those opportunities for the ultimate benefit of the company's clients and shareholders. He said the company has already forged strategic relationships with strong partners in each of its main business areas. Besides, the company has put in place a sophisticated framework for corporate governance and risk management, and has implemented state-of-the-art information technology systems, processes and controls.

Tadhamon CapitalTadhamon Capital

Tadhamon International Islamic Bank (TIIB)Tadhamon International Islamic Bank (TIIB)

For further information about Tadhamon CapitalTadhamon Capital, please visit the Company's website at www.tadhamoncapital.com.

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Issued by Tadhamon CapitalTadhamon Capital.

For further information, please contact:
Austin Sequeira, Executive Director,
Tel: +973 17 103 413
Fax: +973 17 104 840
E-Mail: asequeira@tadhamoncapital.com

© Press Release 2010