Islamic Investment Bank to open office at Dubai International Financial CentrePress Release05 Apr 2006 10:57 am
Injazat Capital, the pioneering Islamic Investment Bank in the Middle East and North Africa region, has been granted a licence by the Dubai Financial Services Authority (DFSA) to operate as an authorised firm in the Dubai International Financial Centre (DIFC).
Welcoming Injazat Capital, Dr Omar Bin Sulaiman, Director General of DIFC Authority, commented:
“One of the key objectives of the Dubai International Financial Centre is to help in the development and further the cause of Islamic finance banking. Our newest partner Injazat Capital has established itself as a pioneer in the Islamic investment sector and we look forward to working together in developing and bringing new Shariah compliant products to the region.
“Injazat Capital has also been involved in offering help to start up companies. The DIFC shares a common goal here with Injazat Capital - to promote young Arab entrepreneurs and assist them in establishing their projects. There are a lot of talented people out there who have all the necessary ingredients to establish successful business ventures. We look forward to their success and the success of our partner companies.”
Hussein Rifai, Managing Director of Injazat Capital said: “We are delighted to have received this licence from the Dubai Financial Services Authority, which highlights our commitment to the growth and development of this region’s corporate sector.
“The DFSA’s effective regulatory framework, combined with the DIFC’s robust infrastructure, provides us with an excellent environment in which to extend the portfolio of expert investment and advisory services we offer to start-up companies in the Information Technology, media, and communications and healthcare sectors.
“Our presence at DIFC will go a long way in promoting the development of an economic eco-system that will enable entrepreneurs and business leaders with the requisite vision and capabilities, to build successful enterprises,” he added.
Injazat Capital is one of the region’s leading and experienced investment bank, operating in compliance with Shari'ah principles and specialising in private equity, venture capital and sophisticated Islamic Transactions. Injazat Capital manages two funds — the US$ 50 million venture capital Technology Fund targets technology, media and communications companies; and the US$ 100 million Shefa Healthcare Fund invests in healthcare providers and ancillary services across the MENA region.