Dubai-based investment bank Tabarak Investment Capital has signed an agreement with Elite Petro & Gas, a company owned by Kuwaiti businessman Faisal Khazaal to carry out commodity trades and to finance oil and gas deals.

The pair announced the partnership in a statement published last week. Elite Petro & Gas was set up last year by London-based Elite Capital as a finance, trading and advisory business focused on downstream activities in oil and gas markets.

Elite Petro & Gas said in the statement its "strategic alliances" with Tabarak Investment Capital has given the company access to clients in the Middle East, as well as access to markets that will need the financing it offers.

It also allows the pair to carry out compliance-related activities both in London and Dubai.

In the press release, Elite Petro & Gas's president and general manager, George Matharu, said the relationship with Tabarak Investment Capital would "serve to enhance our growing client relationships and business reputation in the Middle East and Gulf Cooperation Council”.

Mohamed Ahmadi, president of Tabarak Investment Capital, said: "Our Middle Eastern and Gulf Cooperation Council clients have been doing business in Europe and China for many decades, and through this alliance we will be able to offer them a more tailored and personal service”.

(Writing by Michael Fahy; Editing by Shane McGinley)

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