Al Rayan acts as sole listing advisor for QFB

26/04/2016 07:44 AST

Al Rayan Investment LLC, a Doha based Shari'ah compliant investment firm, and a wholly-owned subsidiary of Masraf Al Rayan, has acted as the "Sole Listing Advisor" for Qatar First Bank (QFB) on its debut listing on the Qatar Exchange (QE).

QFB, a leading Shari'ah compliant bank based in Qatar, offers investment opportunities and innovative financial solutions with local, regional and international reach.

The listing on the domestic bourse is a landmark transaction, which marks several significant milestones including the first new listing on the QE in 2016, the first Qatar Financial Center licensed entity to be listed on the QE; the first private sector entity to be listed on the QE in six years, and the first bank to be listed on the QSE in nine years.

Commenting on the listing, Haithem Katerji, Chief Investment Officer of Al Rayan Investment, said: "This transaction demonstrates not only Al Rayan Investment's leading position in the Qatari market, but also our strong execution capabilities, tenacity and professionalism for successfully completing strategically important transactions for our clients. We remain committed to fulfilling our clients' investment banking needs as their "trusted advisor", by adopting a partnering approach and leveraging our knowledge of the local regulatory requirements".

Ziad Makkawi, QFB's Chief Executive Officer, said: "Our listing on the QSE was always a top priority, and we are proud to deliver on this promise to our shareholders who have supported us all these years and to the Qatar market in general. The listing represents another significant milestone in the Bank's quest to grow, expand its offerings and provide a 'Signature of Excellence' to its clients".

The Peninsula