Manama, Bahrain: Tadhamon Capital, one of the newest Islamic investment companies in Bahrain, officially inaugurated its new corporate headquarters in the Kingdom of Bahrain, in a high-profile launch event held under the patronage of H.E. the Governor of the Central Bank of Bahrain, Mr. Rasheed Al Maraj.The company was licensed by the Central Bank of Bahrain as a category 1 investment company last year and commenced operations during the last quarter of 2008. It is the first investment company in Bahrain fully owned by Yemeni shareholders and is poised to open the doors to greater two-way investments between GCC and other MENA countries and Yemen.
The launch ceremony was held on Monday, 19th October 2009, at Tadhamon Capital’s offices, located on the 12th floor of the GBCORP Tower in the prestigious Bahrain Financial Harbour.
The inauguration was attended by H.E. Rasheed Al Maraj, Governor of the Central Bank of Bahrain, as well as H.E. Dr. Ali Mansour bin Safa, the Yemeni Ambassador to Bahrain; Mr. Abdul-Gabbar Hayel Saeed, Chairman of both Tadhamon International Islamic Bank, Yemen (TIIB) and of Tadhamon Capital; Mr. Waleed Rashdan, Chief Executive Officer and Board Member of Tadhamon Capital; other Board Members of Tadhamon Capital; and other high-profile personalities in the regional Islamic investment industry.
Tahdamon Capital’s CEO, Mr. Waleed Rashdan, commented on the momentous occasion saying, “We are delighted to be launching Tadhamon Capital’s headquarters and first GCC office in the Kingdom of Bahrain, which signifies our confidence in Bahrain as the region’s principal financial hub, and in the dynamic growth prospects of the region’s Islamic investment industry.”
“Tadhamon Capital’s expert team discerningly identifies and evaluates attractive investment opportunities based on a solid understanding of the market, strong fundamental research and analysis, and extensive experience—which we can now offer to local and regional investors with greater ease of access to a wide range of markets.”
“We are looking forward to cultivating many new relationships and lucrative investment opportunities for our valued current and prospective clients, whilst ensuring superior returns with well managed risk. In this regard, I am delighted to announce that the Company already has a strong pipeline of attractive and well diversified investment solutions in asset management, private equity, real estate, and treasury.”
Tadhamon Capital is a 100% owned subsidiary of Tadhamon International Islamic Bank, Yemen (TIIB); whereas, TIIB is majority owned by a much larger and leading Yemeni conglomerate, Hayel Saeed Anam & Co (HSA) Group, with Qatar Islamic Bank also as a prominent shareholder.
Established in 1938, Hayel Saeed Anam Group (‘HSA Group’) of companies is one of the largest and premier business conglomerates in Yemen with business activities spread across a diverse geographic region including Europe, Asia, the GCC and North Africa. The HSA Group pays special attention to social development and effective participation in the economic growth and development of Yemen and the other countries in which it operates.
Tadhamon International Islamic Bank (‘TIIB’) is the largest bank in Yemen and offers Islamic banking and investment services to a broad demographic of customers in Yemen and abroad. TIIB most recently set up a bank in Indonesia and is reviewing a number of other opportunities in South Asia and the MENA region.
Tadhamon Capital’s vision is to become a leading financial institution that promotes Islamic finance on a global level by providing its investors with attractive, diversified and innovative Sharia’a compliant solutions. Focusing initially on the management of existing assets of its shareholders, the Company aims to structure, launch and manage new investments and products across its main business lines which include Asset Management, Private Equity, Real Estate, Treasury and Wealth Management.
For further information about Tadhamon Capital, please visit the Company’s website at www.tadhamoncapital.com
Further information on the HSA Group and TIIB can be found at www.hsagroup.com