06 September 2007
Siraj Capital Ltd, Al-Aoun Capital Group SA and Capital Investments the investment banking arm of Capital Bank of Jordan have announced the signing of an agreement with Al-Rajhi Cement Investment Company (RCIC), newly incorporated in the Dubai International Financial Centre. The agreement mandates Siraj Capital Ltd, Al-Aoun Capital Group and Capital Investments as co-arrangers for the issuance of $595 million worth of Islamic bonds, or Sukuk, for RCIC.
The signing of the agreement took place on Wednesday in Amman, represented by Mr Samer Berekdar, CEO of RCIC; Mr Ibrahim Mardam Bey, CEO of Siraj Capital Ltd; Mr Maher Othman VP of Siraj Capital; Mr Bassam Fadel Ali, CEO of Al-Aoun Capital; and Mr Haytham Kamhiyah, General Manager of Capital Bank / Deputy Chairman of Capital Investments.
Commenting on the agreement, Berekdar said, "We are proud of working with such leading financial institutions. Their extensive knowledge in issuing financial securities will definitely encourage further cooperation. As Al-Rajhi Cement Investment, we are confident of our future success based upon Al-Rajhi's reputable business standing, our continued investment in assets and human capital and the size of our operations under development."
Islamic Sukuk sales reached an unprecedented $24.5 billion by the second quarter of this year.
Siraj Capital Ltd, Al-Aoun Capital Group SA and Capital Investments the investment banking arm of Capital Bank of Jordan have announced the signing of an agreement with Al-Rajhi Cement Investment Company (RCIC), newly incorporated in the Dubai International Financial Centre. The agreement mandates Siraj Capital Ltd, Al-Aoun Capital Group and Capital Investments as co-arrangers for the issuance of $595 million worth of Islamic bonds, or Sukuk, for RCIC.
The signing of the agreement took place on Wednesday in Amman, represented by Mr Samer Berekdar, CEO of RCIC; Mr Ibrahim Mardam Bey, CEO of Siraj Capital Ltd; Mr Maher Othman VP of Siraj Capital; Mr Bassam Fadel Ali, CEO of Al-Aoun Capital; and Mr Haytham Kamhiyah, General Manager of Capital Bank / Deputy Chairman of Capital Investments.
Commenting on the agreement, Berekdar said, "We are proud of working with such leading financial institutions. Their extensive knowledge in issuing financial securities will definitely encourage further cooperation. As Al-Rajhi Cement Investment, we are confident of our future success based upon Al-Rajhi's reputable business standing, our continued investment in assets and human capital and the size of our operations under development."
Islamic Sukuk sales reached an unprecedented $24.5 billion by the second quarter of this year.
© The Star 2007
