Qatar Insurance Company (QIC) and QInvest, a leading investment bank in Qatar, have announced that they are joining forces to create a Qatar-based national champion in the Islamic asset management space.
The new company, jointly owned by QIC and QInvest, will be a Sharia‘a compliant entity, regulated by Qatar Financial Centre Regulatory Authority (QFCRA).
Epicure Investment Management (EIM), a wholly owned subsidiary of QIC, which manages over $7 billion of investment assets across asset classes for its clients, will provide the necessary asset management capabilities to the joint venture entity, while QInvest will provide the necessary infrastructure and market reach to the joint venture entity, capitalizing on its track record in developing and structuring innovative Islamic investment products, in addition to its ability to raise capital.
The transaction remains subject to relevant corporate and regulatory approvals.
Both parties will work collaboratively to finalise the transaction during the second quarter (Q2) of 2022, a joint statement said.
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