Group Business Development

• New Business Development for Ithmaar Bank and its subsidiaries and affiliates.
• Institutional and VIP client relationship management
• Intra-group linkages

 

Funds Launched:

- Latin American Real Estate Fund:

Ithmaar Development Company, the development arm of the Ithmaar banking group, Kuwait-based Al Safat Investment Company (ASIC), the parent company of Al Safat Group, and Bahrain-based Arabian Ventures announced in May 2008 the launch of a US$ 500 million Sharia-compliant real estate fund targeting real estate assets in Latin America. The closed-ended Fund will have an initial term of five years.

The Latin American Real Estate Fund provides sophisticated investors in the GCC with the opportunity to participate in the growth these developing markets are currently experiencing. The Fund is expected to provide a financial boost to local real estate markets in Latin America, and also benefit GCC regional investors by delivering profitable returns.