Manama, Bahrain 14 November, 2016: Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the launch of the Barak Ibdar Shari’ah Trade Finance Fund, a parallel fund of the highly successful Barak Trade Finance Fund.
Commenting on the announcement, Mr. Ahmed Al-Rayes, Acting Chief Executive Officer of Ibdar Bank said: “The Bank is pleased to partner with Barak Fund Management, a highly experienced and award winning specialized Trade Finance Manager in our role as the exclusive placement agent for the Barak Ibdar Shari’ah Trade Finance Fund in the GCC. We have launched this Fund, a parallel Shari’ah fund of the Barak Trade Finance Fund, which since its inception in 2009 has had a straight 7-year positive record with 168% total return and an average of 13% return to investors per year, in response to our clients request for a liquid investment product with high returns.”
Co-Founder and Joint-Chief Investment Officer for Barak, Mr. Prieur Du Plessis added: “Barak has been looking to launch a Shari’ah Fund off the back of its flagship Structured Trade Finance Fund for some time in the GCC region, and the strategic partnership with Ibdar Bank has now actively afforded this opportunity. Given the Middle Eastern region’s historical familiarity with trade and trade finance, Barak is particularly optimistic on the Fund’s outlook and believes it will be able to provide strong risk-adjusted returns for its investors on the back of its growing deal pipeline. We are excited to be working alongside Ibdar Bank and look forward to a successful relationship on both the fund management and investor relations side of the Barak Ibdar Shari’ah Fund.”
About Ibdar Bank
Ibdar Bank is a Bahrain-based wholesale Islamic Investment bank regulated by the Central Bank of Bahrain and engaged in real estate, private equity, capital markets and investment advisory activities.
The Bank was formed in 2013 when three Bahrain-based Islamic banks, Elaf Bank, Capivest and Capital Management House, merged to become the 3rd largest Islamic Investment Bank in Bahrain. Since inception, the Bank has built a track record in the Aviation, Real Estate, Sukook and Asset Management sectors, and remains focused on providing superior Islamic Investment Banking services whilst operating to the highest standards of ethical and sharia banking practices. The Bank is a keen supported of the elevation of the Islamic Banking and Finance Industry as a whole, and the reinvigoration of the Kingdom of Bahrain as the global Islamic Banking hub.
© Press Release 2016
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