10th  September 2012 (Doha, QATAR)

Qatar First Investment Bank (QFIB), Qatar's independent Islamic investment bank authorized by QFC Regulatory Authority, has increased its equity stake in Al Rifai International Holding (Al Rifai) to 35%. Al Rifai is the leading manufacturer of nuts and kernels, light snacks and delicacy in the Middle East with operations in Europe.

Emad Mansour, Chief Executive Officer of QFIB commented, "Since acquiring a 15% stake in Al Rifai late December of last year, the company has shown positive growth prospects. We strongly believe that Al Rifai has the right setup to venture into new markets and diversify its product range. We are very optimistic with our investment in Al Rifai Holding."

Al Rifai's total wholesale-performance recorded a 63.2% year on year growth during H1 2012. The company's export-sales also registered a 66% growth for H1 2012, when compared to the same period last year. Since January 2012, the holding company has succeeded in opening 5 new outlets in Lebanon, reaching a total of 50 points of sales.

Al Rifai is currently seeking to increase its production capacity in Lebanon to reach 10,000 tons replicating the European state -of- the art plant in order to meet the increase in local and foreign demand. The new factory will open during 2nd quarter of 2013.

Mohamed Al Rifai, Chairman and CEO of Al Rifai International Holding said:     "We strongly welcome the increase of QFIB's share in Al Rifai. The increased stake by QFIB will enable Al Rifai to effectively manage risks, enhance corporate governance and ultimately facilitate growth. We look forward to continue working alongside QFIB's team to further enhance the group's performance and expand its operations."

Late in December 2011, QFIB acquired 15% stake in Al Rifai. The deal marked QFIB's debut investment venture in the F&B manufacturing industry reiterating the Bank's prudent investment strategy that focuses on sectorial and geographic diversification. 

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Al Rifai International Holding (Al Rifai)
Al Rifai International Holding Ltd. is the holding company for the Rifai interests in the nuts and kernels and coffee sectors worldwide, with the business having doubled its revenues over the last 3 years due to growth in the Lebanese market and expansion into Europe with the establishment of a 10,000 sqm state-of-the-art manufacturing facility in Sweden.

Its products are branded under the name of Al Rifai and Nutisal. The company owns 100% of the Nutisal and Rifai business worldwide, with the exception of the Arab Gulf and North Africa market which is operated through a joint venture arrangement with the Kuwaiti Homaizi Group

About QFIB
Established in 2009, Qatar First Investment Bank (QFIB) is a shari'ah compliant investment bank well positioned to work across the MENA region.   QFIB is unique in Qatar, simultaneously independent and central to the market, providing clients and counterparties with access to one of the region's deepest pools of capital. Adopting an investment strategy that centres on sector and geographical diversification, QFIB's target sectors include the energy, financial services, industrials, real estate, and health care services.

QFIB is the first independent Shari'ah compliant investment bank licensed by the Qatar Financial Centre Regulatory Authority (QFCRA) and is ISO 27001 certified. Offering Principal Investments, Asset Management and Corporate Finance Advisory services, QFIB operates to the highest of international business regulatory standards and corporate governance. 

As part of QFIB's long-term commitment to its shareholders, the company aims to list its shares on the Qatar Exchange in 2012. 

In 2011, QFIB was awarded "Best Investment Bank in the GCC" at the Islamic Business & Finance Awards organized by CPI Financial.

Media Contact:        
Samar Atassi
Head of Corporate Communications
Qatar First Investment Bank
Direct: +974 4448 3355
Fax   +974 444 3560
Email: samar.atassi@qfib.com.qa
P.O. Box 28028 Doha, Qatar

© Press Release 2012