- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 05:26 06:44 12:11 15:09 17:32 18:50
Qatar Islamic Bank (QIB) has signed an initial deal with QInvest and Silver Leaf Capital (SLC) to set up a $1 billion (Dh3.7bn) Sharia-compliant private equity fund in the Gulf Arab state, the bank said in a statement.
The Dhow Gulf Opportunities Fund, which aims to attract foreign investors to Qatar and the Gulf region, will be managed by Doha-based Dhow Investors Advisor (DIA), a company jointly owned by QInvest and SLC, it said.
"This is the first large-scale ever private equity fund in Qatar. Our objective is to invest in diverse sectors that will allow technology migration and transfer of know-how to Qatar," QIB's CEO Salah Jaidah said in the statement. "We already have in the pipeline about $300 million (Dh1.1bn) of investment opportunities that DIA is evaluating. The private equity will contribute in the strong potentiality of growth of local companies in Qatar," he said. (Reuters) |
Follow Emirates 24|7 on Google News.