Doha, Qatar – The First Investor (“TFI”), a leading financial institution specialising in Sharia-compliant investment banking and asset management solutions, and a wholly owned subsidiary of Dukhan Bank, has announced a strategic marketing partnership with Wasata Financial Securities (“Wasata”), a prominent investment services provider. This collaboration aims to expand Wasata’s  range of investments offerings by introducing sukuk products to its clients.

By leveraging TFI’s extensive local and global market expertise and advanced sukuk execution capabilities, this strategic collaboration creates a robust platform for delivering innovative, low-risk, and Sharia-compliant investment solutions. TFI, a recognised leader in the capital markets and particularly in the sukuk space, manages a highly regarded sukuk fund with assets exceeding QAR 450 million, alongside its comprehensive sukuk execution services. This partnership enables Wasata to enhance its suite of financial solutions with, providing clients with access to diversified and secure investment opportunities

Mr. Haithem Al Katerji, CEO of TFI, stated: “We are delighted to collaborate with Wasata to provide access to investment opportunities in the global capital markets space, particularly in the Sukuk market. This partnership underscores our commitment to delivering tailored financial solutions, and together we are strengthening the local investment and savings landscape.”

Mr. Mohammed Abu Ghoush, CEO of Wasata, added: “This partnership significantly enhances our ability to provide clients with a broader range of sukuk investment opportunities. It is a strategic win for both organizations and, most importantly, for our clients.”

Both TFI and Wasata are dedicated  to fostering long-term client relationships and driving mutual growth by delivering seamless, Sharia-compliant investment solutions

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About Dukhan Bank:

Dukhan Bank was incorporated as a Qatari Shareholding Company in the State of Qatar under Commercial Registration No. 38012 dated 28 January 2008. Dukhan Bank commenced its activities on 1 February 2009 under Qatar Central Bank License No. RM/19/2007. The Bank and its subsidiaries are primarily engaged in financing, investing and advisory activities in accordance with Islamic Shari’a rules as determined by the Shari’a Committee of the Bank and provisions of its Memorandum and Articles of Association. Investment activities are carried out for proprietary purposes and on behalf of customers.

The Bank operates through its head office situated on Grand Hamad Street, Doha and its 9 branches in the State of Qatar. The Bank rebranded itself from Barwa Bank to Dukhan Bank during October 2020 post obtaining necessary approvals as per the State of Qatar applicable laws and regulations. The Bank is 24.6% owned by the General Retirement and Social Insurance Authority, 11.7% by the Military Pension Fund (Qatar), and 7.0% by Qatar Holding, strategic and direct investment arm of Qatar Investment Authority being the sovereign wealth fund of the State of Qatar; and remaining shares are owned by other shareholders.

On 22 January 2023, pursuant to Resolution No. 2 of 2023 by the Minister of Industry and Commerce, the Bank was converted from a Qatari Private Shareholding Company to a Qatari Public Shareholding Company. On 1 February 2023, Qatar Financial Markets Authority approved the listing of the Bank’s shares on the Qatar Stock Exchange.

Following the approval, trading of the Bank's shares on Qatar Stock Exchange Main Index commenced on 21st February 2023. The Bank was included under the MSCI emerging market index as of the close of 31st May 2023. On 15th September 2023, the Bank was included in the FTSE’s mid-cap index. QSE included the Bank to QE Index and QE Al-Rayan Islamic index effective from 1st October 2023.

About The First Investor (TFI):

The First Investor (TFI) is a subsidiary of Dukhan Bank Q.P.S.C. and is licensed and regulated by the Qatar Central Bank as an Investment Company focusing on asset management and financial advisory. Headquartered in the State of Qatar, TFI is a pioneering company in the field of Sharia-compliant financial services, with a strong focus on asset management and financial advisory. TFI strives for excellence by delivering comprehensive financial solutions and strategic financial guidance. TFI focusses on high-growth sectors with long-term potential through a diverse and innovative portfolios of investment products and services in the region.

TFI has grown its asset management business over the years and currently has over QAR 2.6 billion in assets under management, invested across various asset classes. In addition, TFI’s financial advisory team has provided guidance to numerous Qatari companies, with the value of advisory transactions exceeding QAR 11 billion.

TFI is committed to fostering trust-based, long-term relationships. Its client base is vast and includes government entities, government-related organizations, corporations, family offices, and high-net-worth individuals. TFI’s adoption of transparency, reliability, and innovation, complemented by a client-centric approach, distinguishes it as a leading investment solution provider in the present day volatile global financial landscape.

About Wasata Financial Securities:

WASATA Financial Securities (formerly Islamic Financial Securities) is a wholly owned subsidiary of INMA Holding Company, a Qatar Stock Exchange (QSE) listed public joint stock holding company. Established in 2003, WASATA Financial Securities provides brokerage services to QSE investors, at the beginning of 2020, the company earned a “Comprehensive Broker” classification as per the approval of Qatar Financial Markets Authority (QFMA) to offer the following services:

  1. Execution of securities’ trade orders for a third party
  2. Own securities’ trading
  3. Advisory on securities
  4. Liquidity provider
  5. Market Maker
  6. Securities marketing and promotion.

During this time, Wasata has generated excellent proven results and performance in its licensed activities thus establishing itself as one of the major contributors to stock market activities in Qatar. WASATA continues to have an increasing presence and participation within listed stocks trading at QSE, whether its brokerage services, Trading, Market Making and Liquidity Provision.