_36.jpg)
Alhajeri "Regional coalitions drive the asset management industry to new levels and lend a hand in overcoming current challenges faced by GCC Markets" Markaz and al khaliji, a regional bank headquartered in Qatar, announced today the signing of a distribution agreement. al khaliji will act as a Selling Agent of Markaz funds through its network of branches and subsidiaries in the State of Qatar as well as across the GCC as the bank expands regionally. Mr. Manaf Alhajeri, General Manager of Markaz said, "We value our partnership with al khaliji which is symbiotic and mutually beneficial. al khaliji is offering their client base the opportunity to benefit from investing in award-winning, innovative investment products, while Markaz can now more easily tap into new marketing channels in order to serve a much wider and more diverse segment of investors."
Mr. David Proctor, Chief Executive Officer of al khaliji said "This is another example of how swiftly a next generation bank can respond to changing market conditions. Investors are worried about the potential impact of the US and European economic crisis and are looking for alternative places to invest their funds. Markaz has profound regional investment expertise and al khaliji is delighted to offer the Markaz range of investment funds to our customers. We look forward to building a long term relationship together." Alhajeri added "Regional coalitions amongst seasoned and newly established financial institutions in the GCC lend a hand in overcoming current challenges faced by GCC Markets and drive the asset management industry to new levels.” Alhajeri added "The GCC region is in need of stronger coordinated efforts that are employed towards offering world-class wealth management services, and in promoting the role of institutional investors in order to meet demand resulting from accelerating growth in governments', institutions', and individuals' riches." “Well managed savings tools have a tremendous growth potential in the Qatari Market, due to record surpluses, and high GDP per capita. Markaz can meet this demand with innovative products and a solid track record of consistent outperformance that spans more than three decades." Alhajeri concluded "We look forward to having a long-term and fruitful partnership with al khaliji and will be offering a wider range of investment funds and products in the near future." Markaz also established a branch in 2006 in Qatar Financial Centre to provide its advisory services to institutional & business customers in Qatar. The agreement will commence its activities with the marketing of Markaz Gulf Fund. The fund invests in companies listed in GCC and MENA stock exchanges.
About Kuwait Financial Centre "Markaz" Kuwait Financial Centre S.A.K. 'Markaz', with total assets under management of over KD 1.2 (USD 4.5 billion) as of September 30, 2008, was established in 1974 has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997; and has been awarded a BBB+ corporate rating by Capital Intelligence Ltd. About al khaliji (Al Khaliji Commercial Bank Q.S.C.) al khaliji was incorporated in Doha in January 2007 with an aim to become a regional GCC and international bank offering conventional and Islamic banking services. Since incorporation al khaliji completed its IPO and listing on the Doha Securities Market and raised QAR 7.2bn of authorised capital, recruited 394 staff, successfully launched all four of its business lines (Corporate & Institutional Banking, Treasury & Debt Capital Markets, Premium / Business and Retail Banking).
In November 2008, al khaliji closed its acquisition of 100% of the share capital of BLC Bank (France) S.A., including an European Union wide banking license, one Paris branch and four branches in the UAE, and extending its team to 520 staff. This acquisition meant al khaliji became the largest wholly owned UAE branch network of any Qatari bank and a full EU banking license with a branch in Paris. Another recent highlight is that its stock was added to the DSM 20 Index, a reflection of a variety of factors including the size of its market capitalisation and the number and value of shares traded. -The End- Photo Caption: Mr. Manaf Alhajeri, General Manager of Markaz and Mr. David Proctor, CEO of al khaliji in the signing ceremony. For further information, please contact: Mariam Al - Suwailem Senior Media & Communications Officer Kuwait Financial Centre S.A.K.
"Markaz"
Tel: +965 224 8000 ext 1817
Fax: +965 241 4499
Email: [email protected]
Website: www.markaz.com
Florence Janin Senior Executive, Corporate Affairs al khaliji
Tel.: +974 494 0412
Fax: +974 499 6020
Mob.: +971 50 9127922
Email: [email protected] Website: www.alkhaliji.com