In order to provide the Saudi Arabian institutional and sophisticated investors with a regular supply of Shariáh Compliant innovative investment products, Tabarak Partners LLP and Arbah Capital have agreed to enter into a partnership for product development. With the increasing regulation in the Saudi Arabian financial sector through reforms by the Capital Market Authority, Arbah Capital, an Islamic Wealth Management company based in Dammam has appointed Tabarak Partners to provide innovative products that meet investment grade criteria while at the same time are in compliance with Shariáh. It may be noted that Tabarak Partners, regulated by the DFSA, has developed and provided regional financial institutions like National Commercial Bank, Dubai Islamic Bank and Banque Saudi Al Fransi with funds in the asset classes of Private Equity, Real Estate and Trade Finance. Both parties jointly will provide turnkey Shariáh compliant structuring and advisory services for investment funds for ultra high net worth and institutional investors in Saudi Arabia and the rest of the Gulf.
Together, Tabarak and Arbah will launch structured investment products that, in addition to being Shariáh compliant, appeal on their specific product basis, thereby attracting both conventional and Islamic investors. In a later stage, the product range can be broadened to meet other investment requirements.
"Despite the continued growth in wealth and the increasing interest to invest in compliance with Shariáh, both Islamic and non-Islamic investors keen to invest in compliance with Shariáh are still confronted with an anaemic supply of quality risk-adjusted return products. We appreciate the choice of Arbah in selecting product specialists like Tabarak, who have a track record for structuring and arranging Shariáh compliant transactions worth more than $1.2bn. This will certainly aid in meeting the demands of the clients", explain Khuram Hussain, (Tabarak Managing Partner).
"We are excited about this partnership, considering the impressive track record of Tabarak which matches the vision of Arbah Capital as the first Islamic Wealth Management firm in the GCC. This will allow for the creation of innovative, high end products that are Shariáh compliant while adhering to industry best standards and meeting our investors risk-return profiles", says Dhafer Alqahtani, Co-CEO & CIO of Arbah Capital.
-Ends-
About Tabarak Partners LLP: www.tabarak.com
Tabarak Partners is regulated by the Dubai Financial Services Authority as a fully Islamic investment advisory firm. Tabarak Partners have till now structured innovative Shariáh Compliant investment products in the asset classes of Trade Finance, Real Estate and Private Equity along with a number of listed equity products. With an experienced team of professionals having extensive network in the GCC region, a number of Islamic and Conventional financial institutions have underwritten and launched Tabarak's Shariáh Compliant investment products through their wealth management platforms. Currently Tabarak is advising Shariah compliant funds to the tune of US$650mn and assisting them in their distribution and financing requirements.
About Arbah Capital: www.arbahcapital.com
Arbah Capital Investment is a Shariáh Compliant investment management firm regulated by the Saudi Arabian Capital Markets Authority to provide a host of investment banking and asset management services. Based in Dammam, Arbah shall be providing asset management, wealth management, corporate finance and advisory for UHNWI and institutional clients in Saudi Arabia.
For more information, please contact :
Mr. Khuram Hussain
Tabarak
Tel: +971 4 343 6617
E-mail : khuram@tabarak.com
Mr. Dhafer Alqahtani
Arbah Capital
Tel : +966 50 636 5461
E-mail : Dhafer@arbahcapital.com
© Press Release 2008
