DOCSLIB.ORG

Ten Years of Growth & Development

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ten Years of Growth & Development TEN YEARS OF GROWTH & DEVELOPMENT Annual Report 2014 - 2015 A MILESTONE YEAR IN 2015, VCBANK CELEBRATED ITS 10TH ANNIVERSARY, WHICH REPRESENTS A SIGNIFICANT CORPORATE MILESTONE. DURING THE PAST DECADE, THE BANK HAS ARRANGED, OFFERED AND PLACED OVER 40 ATTRACTIVE, AND OFTEN UNIQUE INVESTMENT OPPORTUNITIES ACROSS A NUMBER OF PROMISING ASSET CLASSES AND SECTORS, WITH A TOTAL VALUE EXCEEDING USD 1.7 BILLION. VENTURE CAPITAL BANK BSC(C) Venture Capital Bank Building Building 247 Road 1704, Block 317 Diplomatic Area P.O. Box 11755, Manama Kingdom of Bahrain Tel: +973 1751 8888 Fax: +973 1751 8880 www.vc-bank.com Licensed as an Islamic Wholesale Bank by the CBB VENTURE CAPITAL BANK CONTENTS SECTION 1 CORPORATE PROFILE CORPORATE OVERVIEW VENTURE CAPITAL BANK 02 Annual Report 2014 - 2015 Annual Report 2014 - 2015 03 SECTION 1 SECTION 2 SECTION 3 SECTION 4 Venture Capital Bank (VCBank) is the Vision Values CORPORATE PROFILE BOARD & MANAGEMENT BUSINESS REVIEW FINANCIAL STATEMENTS first Islamic investment bank in the GCC and MENA region to specialise in Our vision is to be the leading regional Islamic The values of performance, innovation, client 03 Corporate Overview 06 Chairman’s Statement 16 Investment Review 42 Financial Statements small-to-medium enterprises (SMEs) and venture capital-based investment bank, helping focus, teamwork, and compliance with the 04 Financial Highlights 08 Board of Directors 26 Wealth Management 79 Basel II – Pillar 3 Disclosures venture capital investment opportunities. to drive business growth, and supporting the rules and principles of Islamic Shari’ah, guide 05 Operational Highlights 10 Shari’ah Supervisory Board 27 Corporate Functions Commencing operations in October 2005, social and economic development of the GCC us in our personal and professional behaviour. 12 CEO’s Report 28 Corporate Social VCBank operates under an Islamic wholesale and MENA regions. 14 Executive Management Responsibility banking licence from the Central Bank of Our adoption of international standards and 29 Risk Management Review Bahrain. With an authorised capital of USD We aim to maximise shareholders’ value and global best practice governs the way we 30 Corporate Governance 500 million and paid up capital of USD190 clients’ wealth, and add a new dimension to manage the operations of the Bank across all Review million, the Bank benefits from the financial the Islamic banking industry. areas of activity. 40 Governance and backing and support of a prominent group Organisation Structure of regional shareholders; an experienced Mission team of industry professionals; and a close- knit network of strategic partners, business Our mission is to create a pioneering associates and allies. business model and take a leadership role in institutionalising investment in the regional VCBank offers clients a broad array of venture capital market. superior services and unique investment opportunities across a number of promising By forging enduring strategic partnerships, we aim to provide support and encouragement asset classes in the GCC, MENA, Turkey, UK for the growth and development of the and USA. The Bank focuses primarily on underserved small-to-medium enterprises (SMEs) venture capital and business development, sector in the GCC and MENA regions, which private equity, and selective real estate lacks the necessary resources for growth and investment opportunities. expansion. VCBank is uniquely positioned to lead the development of the nascent venture capital industry in the region by providing unmatched levels of support for fundamentally strong and undervalued SMEs that lack the necessary resources for growth and expansion. VENTURE CAPITAL BANK FINANCIAL HIGHLIGHTS SECTION 1 CORPORATE PROFILE OPERATIONAL HIGHLIGHTS VENTURE CAPITAL BANK 04 Annual Report 2014 - 2015 Annual Report 2014 - 2015 05 • Delta Company Limited, Saudi Arabia • Investor Relations • Corporate Social Responsibility US Dollar in Millions Net Profit Total Income Acquired 45% stake in specialist New client relationship management Sponsored three major global contractor for electrical power, (CRM) system fully implemented to Islamic banking and finance industry Despite an extremely 14.1m 30.9m transmission and distribution provide enhanced service conferences challenging regional 30 June 2015 30 June 2015 VCBank head office roof garden economic and market • 24 Buckingham Gate, London SW1 • Governance supports the Green Capital Project backdrop, VCBank 14.6m 28.6m Structured and advised on acquisition VCBank adopted new CBB regulations: 30 June 2014 30 June 2014 of prime freehold residential site under • Industry Recognition posted a strong financial Sound Remuneration Practices development VCBank was ranked in the top five performance for FY Foreign Account Tax Compliance Act Islamic financial institutions in the 2015. (FATCA) Total Assets Shareholders’ Equity • VCBank Liquidity Programme 2 GCC, according to the Financial Disclosure Index of the World Islamic Shares backed by prime asset of Jebel • Human Capital Banking Conference Leaderboard Ali Labour Accommodation 250.8m 219.5m Continued to recruit professionals for The Bank was named “Best Islamic 30 June 2015 30 June 2015 key areas Investment Bank 2015” by the Global • Portfolio Management Islamic Finance Awards Expanded Executive Management 249.4m 216.0m Dedicated Post-Acquisition Team Team 30 June 2014 30 June 2014 established to monitor and manage the performance of Bank’s portfolio Three members of the Bank’s companies in line with their strategic management team attended the CBB business plans and exit strategies Waqf Fund Leadership Grooming Total Assets Under Management Capital Adequacy Ratio (%) Programme 1,274.2m 36.9% 30 June 2015 30 June 2015 1,242.6m 43.8% 30 June 2014 30 June 2014 1 Jan 2012 - 30 June 2015 30 June 2014 30 June 2013 3 Years Summary USD ‘000 USD ‘000 USD ‘000 NET PROFIT 14,058 14,589 21,145 Impairment allowances on receivables and AFS investments (3,703) (2,350) (4,070) Fair value losses booked on FVTPL investments (3,000) (2,250) (7,300) TOTAL ASSETS 250,820 249,402 221,561 Total liabilities 31,353 33,384 21,083 Total equity 219,467 216,018 200,478 TOTAL ASSETS UNDER MANAGEMENT 1,274,227 1,242,591 1,146,491 Capital adequacy ratio 36.9% 43.8% 47.6% Return on average assets 5.6% 6.2% 10.1% Return on equity 6.5% 7.0% 11.1% Total Asset : Total Liability ratio 800% 747% 1051% VENTURE CAPITAL BANK CHAIRMAN’S STATEMENT SECTION 2 BOARD & MANAGEMENT VENTURE CAPITAL BANK 06 Annual Report 2014 - 2015 Annual Report 2014 - 2015 07 noted that these results are after recognising fair and venture capital opportunities, through more efficient and focused institution, supported Shareholders’ Equity value losses of USD 3 million and impairment which to support the economic and social by an underlying commitment to ethical banking provisions of USD 3.7 million, which were development of the region. activities; sound corporate governance and risk booked as a prudent measure in view of management; and an enlightened approach to prevailing market conditions. During the past decade, VCBank has corporate social responsibility. developed a successful track record for USD219.5m The Bank continued to maintain a strong superior deal flow and strong placement Based on our financial and operational capital base, with total balance sheet assets capability, which are critical success factors performance during fiscal year 2015, and our of USD 250.8 million as at 30 June 2015 for an investment bank. For each of the past achievements over the past three and a half 30 June 2015 compared with USD 249.4 million at the end ten years, the Bank has arranged, offered and years, we remain cautiously optimistic about the of the previous year, while the balance sheet placed attractive, and often unique, investment future prospects for VCBank. We benefit from remained unleveraged. At the end of FY 2015, opportunities across a number of promising a supportive Board and strong Management shareholders’ equity stood at USD 219.5 asset classes and sectors. These cover venture team, a clean balance sheet and sound million versus USD 216 million at the end of FY capital and business development, private financial position, and a strong investment 2014. VCBank’s capital adequacy ratio was a equity, and selective real estate in the GCC, deal pipeline. The Bank is therefore – with the very robust 36.9 per cent, considerably higher MENA, Turkey, UK and USA. The Bank grace of God – well placed to take advantage than the 12.5 per cent minimum requirement of has developed particular expertise in the of future economic and market improvements, the Central Bank of Bahrain. Total assets under healthcare, agribusiness, power transmission, and capture new business opportunities. management grew by 2.5 per cent to USD oil and gas, and education. However, based on past experience, and 1.27 billion as at 30 June 2015 compared with given the reduced forecast for GDP growth in USD 1.24 billion at the end of the previous year. VCBank now ranks among the most active the GCC and MENA region, we realise that investment banks in the region, with investment the immediate future will continue to prove In terms of investment activities, I am pleased placements since inception exceeding USD 1.7 both volatile and challenging for the regional to report that the Bank successfully concluded billion. Given the highly volatile global and investment banking sector. three new transactions during the year. This economic and market environment during this “During the past decade, VCBank has developed a was in addition to a partial exit of the Jebel period, together with heightened geo-political In conclusion, on behalf of the Board of successful track record for superior deal flow Ali Labour Accommodation project in the UAE tensions in some parts of the region, this is a Directors, I extend my sincere thanks and through an asset backed Liquidity Programme significant achievement for a MENA-focused appreciation to His Majesty the King of and strong placement capability, which are of USD 59.5 million, and the revival of the Islamic investment bank.
Load more

Recommended publications
  • Dr. Hashim Hussein
    FEATURED/ DALAL BUHEEJI EVENTS/ INJAZ BAHRAIN TECH/ DIGITIZING BEEKEEPING WOMEN IN FINTECH BAHRAIN P. 24 2019 YEC P.50 HONEYFLOW AFRICA P. 96 Issue 5 Volume 2 / June-July 2019 INSPIRING STARTUPS AND ENTREPRENEURSHIP IN BAHRAIN INTERVIEWS: KEITH SHARP VICEPRESIDENT BRITISH UNIVERSITY OF BAHRAIN TOBIAS TAUPITZ CEO & COFOUNDER LAKA FERYAL ABDULLA NASS + INSIDE CHAIRWOMAN ORGANIZATIONAL BAHRAIN ENTREPRENEURSHIP TRAINING ORGANIZATION FRANCHISING SALES INSPIRATION ENTREPRENEURS TECHNOLOGY SOCIAL MEDIA INTERVIEW WITH DR. HASHIM HUSSEIN Head of the UNIDO Investment & Technology Promotion Oce UNIDO ITPO Bahrain Director of the Arab International Center for Entrepreneurship & Investment (AICEI) ENTREPRENEUR Bahrain B ISSN 2535-9827 www.bentrepreneur.biz 26 Bahrain FinTech Bay The beating heart of MENA’s fintech scene 14 Dr. Hashim Hussein Creating a Culture of Innovation in Bahrain British University of 18 Bahrain 24 The Salford experience Best Free Business Apps 22of 2019 Power up your business with these free apps! Women in Fintech Bahrain PlantOS Profitable indoor farming initiative 30 Welcoming more women in the fintech field 4 / bentrepreneur.biz/June - July 2019 44 Laka Bicycle insurance powered by you Engage with change 62Motivate drive in your company to 56 deliver greater profits Baybars Atluntas Bahrain Entrepreneurship 76Organization launched to address major issues and promote the growth of SMEs Lumofy 88Diagnosing and delivering empowering learning experiences Chairman of the World Business Angels Six inspiring books for Investors Forum 102entrepreneurs Read your way to business success June - July 2019/ bentrepreneur.biz / 5 ACKNOWLEDGEMENTS Issue 5 Volume 2 BEntrepreneur Magazine © Albayan Media Group BEntrepreneur is a bi-monthly publication created by Albayan Media Group for the purpose of propagating information about business FEATURED/ DALAL BUHEEJI EVENTS/ INJAZ BAHRAIN TECH/ DIGITIZING BEEKEEPING WOMEN IN FINTECH BAHRAIN P.
    [Show full text]
  • Annual Report 2019 (PDF 3.35MB)
    BUILDING PARTNERSHIPS. DRIVING GROWTH. BRIDGING GAPS. Annual Report 2019 Contents Strategic Report 02 Overview 02 04 Financial Highlights 05 Key Indicators 06 Financial Review 08 Board of Directors 11 Shari’a Board 12 Chairman’s Statement 16 Executive Management 20 Group CEO’s Statement 24 Management Review Corporate Governance 31 31 Corporate Governance Financial Statements 37 Corporate Information 37 38 Independent Auditors’ Report to the Shareholders 40 Consolidated Statement of Financial Position 41 Consolidated Statement of Profit or Loss 42 Consolidated Statement of other Comprehensive Income 43 Consolidated Statement of Changes in Equity 44 Consolidated Statement of Cash Flows 45 Notes to the Consolidated Financial Statements 76 Risk and Capital Management Disclosures Bahrain Development Bank B.S.C. (c) BDB Building, Diplomatic Area P.O. Box 20501, Manama, Kingdom of Bahrain T: (+973) 17 511111, F: (+973) 17 534005 E: [email protected] www.bdb-bh.com View our Annual Report and other information about Bahrain Development Bank on www.bdb-bh.com His Royal Highness His Majesty King His Royal Highness Prince Khalifa bin Salman Hamad bin Isa Prince Salman bin Hamad Al Khalifa Al Khalifa Al Khalifa The Prime Minister of The King of the Kingdom The Crown Prince, the Kingdom of Bahrain of Bahrain Deputy Supreme Commander and First Deputy Prime Minister Bahrain Development Bank 02 Annual Report 2019 Overview Bahrain Development Bank (BDB) provides a variety of financial services that are tailored to meet the needs of small and medium enterprises in Bahrain. Bahrain Development Bank This strategy is in line with the commenced its operations Bank’s mission of being an active in 1992 as a specialist Bank.
    [Show full text]
  • The Rise of Fintech in the Middle East an Analysis of the Emergence of Bahrain and the United Arab Emirates
    The Rise of FinTech in the Middle East An Analysis of the Emergence of Bahrain and the United Arab Emirates JACKSON MUELLER AND MICHAEL S. PIWOWAR ABOUT US ABOUT THE MILKEN INSTITUTE The Milken Institute is a nonprofit, nonpartisan think tank. For the past three decades, the Milken Institute has served as a catalyst for practical, scalable solutions to global challenges by connecting human, financial, and educational resources to those who need them. Guided by a conviction that the best ideas, under-resourced, cannot succeed, we conduct research and analysis and convene top experts, innovators, and influencers from different backgrounds and competing viewpoints. We leverage this expertise and insight to construct programs and policy initiatives. These activities are designed to help people build meaningful lives, in which they can experience health and well-being, pursue effective education and gainful employment, and access the resources required to create ever- expanding opportunities for themselves and their broader communities. ABOUT THE CENTER FOR FINANCIAL MARKETS The Milken Institute Center for Financial Markets conducts research and constructs programs designed to facilitate the smooth and efficient operation of financial markets to help ensure that they are fair and available to those who need them when they need them. CONTENTS 3 Executive Summary 4 Introduction 4 Setting the Foundation for FinTech Development 5 Growing Domestic and Regional Customer Base 6 Positive Growth Trends and Established Payments Presence 9 The Emerging
    [Show full text]
  • Developing Bahrain and the UAE Into Fintech Hubs a Timeline of Activity (As of July 2019)
    Developing Bahrain and the UAE into FinTech Hubs A Timeline of Activity (as of July 2019) Kingdom of Bahrain (Bahrain) FinTech-related Policy & Regulatory Developments Collaboration & Outreach United Arab Emirates (UAE) FinTech-related Policy & Regulatory Developments Collaboration & Outreach 1 Bahrain FinTech-related Policy & Regulatory Developments (2014–July 2019) 2014 The Central Bank of Bahrain created two new license types—payment services and card processing services—marking the entry of non-bank companies into banking services.1 December 2015 December 13, 2015: The Central Bank of Bahrain, in collaboration with the Benefit Company, launched the Electronic Fund Transfer System (EFTS). "Through the EFTS network, all local banks and major billers are interconnected to enable near real-time fund transfer up to BD1,000 via the Fawri+ service. Additionally, users can opt for other services enabled by this network such as the deferred settlement fund transfer service...."2 January 2016 January 17, 2016: Bahrain's non-oil sector grew 4.2 percent in the first nine months of 2015. "In recent months, Bahrain has seen a number of developments in the financial services, ICT and manufacturing sectors. In November the Central Bank of Bahrain, in collaboration with the local Benefit Company, launched a pioneering Electronic Fund Transfer System (EFTS) that connects all retail banks in the Kingdom with each other and with major billers in order to increase the efficiency of fund transfers."3 May 2016 May 25, 2016: A roundtable session organized by the Economic Development Board of Bahrain was held in Bahrain Financial Harbour and focused on ways to promote innovation in payment services.
    [Show full text]
  • Driving Investment and Entrepreneurship in the Middle East
    Driving investment and Tuesday, March 16, 2021 entrepreneurship in the Middle East 9:00 – 10:00 a.m. EDT/5:00 – 6:00 pm GST Online event via Zoom Speaker Bios H.E. Dr. Tariq Bin Hendi @ACScowcroft #ACCommanders Director General, Abu Dhabi Investment Office H.E. Dr. Tariq Bin Hendi is the Director General of the Abu Dhabi Investment Office (ADIO). He leads the organization’s efforts to grow and diversify Abu Dhabi’s economy through private sector investment. He also oversees strategic initiatives that support the emirate’s economic growth and reputation on the world stage. Prior to joining ADIO, His Excellency held leadership roles at various institutions including Emirates NBD, Mubadala, and Citibank. He also sits on a number of boards including AXA GCIC and EPG (Emirates Post Group). His Excellency holds a PhD in Economics from Imperial College London and graduate degrees from Columbia University and London Business School. Areije Al Shakar Director & Fund Manager, Al Waha Fund of Funds Areije Al Shakar is a senior leader in Bahrain’s financial industry, bringing 17 years of experience in the startup and banking sectors to Al Waha Fund of Funds via her role as Senior Vice President at Bahrain Development Bank. She has been featured among Bahrain’s Most Influential Women by Business in Gulf. Areije is also a Kauffman Fellow and the chairperson of the prestigious investment programme’s MENA Chapter. At Al Waha, Areije works to build out a venture capital ecosystem within the region by meeting with funds, building networks, and connecting startups with funding opportunities, including as part of Bahrain’s annual delegation to the World Economic Forum.
    [Show full text]
  • Doing Business in Bahrain
    Doing Business in Bahrain 2011 About Ernst & Young Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Our 114,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and our approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited does not provide services to clients. Ernst & Young Doing Business in Bahrain 2 Disclaimer This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Neither EYGM Limited nor any other member of the global Ernst & Young organization can accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. On any specific matter, reference should be made to the appropriate advisor. Ernst & Young Doing Business in Bahrain 3 Doing business in Bahrain This book is one in a series of country profiles prepared for use by clients and professional staff. Additional copies may be obtained from: Ernst & Young PO Box 140 14th Floor, The Tower Bahrain Commercial Complex Manama Kingdom of Bahrain Telephone: +973 17 53 54 55 Facsimile: +973 17 53 54 05 Ernst & Young Doing Business in Bahrain 4 Preface This book has been prepared by the Bahrain office of Ernst & Young Global.
    [Show full text]
  • Bahrain and the Fourth Industrial Revolution
    Bahrain and the Fourth Industrial Revolution Claude Lopez, PhD, Joseph Bendix, and Cesar Servin ABOUT THE MILKEN INSTITUTE The Milken Institute is a nonprofit, nonpartisan think tank. For the past three decades, the Milken Institute has served as a catalyst for practical, scalable solutions to global challenges by connecting human, financial, and educational resources to those who need them. Guided by a conviction that the best ideas, under-resourced, cannot succeed, we conduct research and analysis and convene top experts, innovators, and influencers from different backgrounds and competing viewpoints. We leverage this expertise and insight to construct programs and policy initiatives. These activities are designed to help people build meaningful lives, in which they can experience health and well-being, pursue effective education and gainful employment, and access the resources required to create ever-expanding opportunities for themselves and their broader communities. ©2020 Milken Institute This work is made available under the terms of the Creative Commons AttributionNonCommercialNoDerivs 3.0 Unported License, available at creativecommons.org/licenses/by-nc-nd/3.0/. BAHRAIN AND THE FOURTH INDUSTRIAL REVOLUTION Claude Lopez, PhD, Joseph Bendix, and Cesar Servin ABSTRACT The launch of the Bahrain FinTech Bay in 2018 was a significant step for Bahrain toward becoming a technology and innovation hub. It continues to develop its infrastructure to enable the developments using Fourth Industrial Revolution- relevant technology while updating the corporate governance framework in an attempt to curtail investor uncertainty and exposure in the region. Bahrain differentiates itself from its larger neighbors by highlighting its well-trained population and low cost of living and running a business.
    [Show full text]
  • Developing Bahrain and the UAE Into Fintech Hubs a Timeline of Activity (As of July 2019)
    Developing Bahrain and the UAE into FinTech Hubs A Timeline of Activity (as of July 2019) Kingdom of Bahrain (Bahrain) FinTech-related Policy & Regulatory Developments Collaboration & Outreach United Arab Emirates (UAE) FinTech-related Policy & Regulatory Developments Collaboration & Outreach 1 Bahrain FinTech-related Policy & Regulatory Developments (2014–July 2019) 2014 The Central Bank of Bahrain created two new license types—payment services and card processing services—marking the entry of non-bank companies into banking services.1 December 2015 December 13, 2015: The Central Bank of Bahrain, in collaboration with the Benefit Company, launched the Electronic Fund Transfer System (EFTS). "Through the EFTS network, all local banks and major billers are interconnected to enable near real-time fund transfer up to BD1,000 via the Fawri+ service. Additionally, users can opt for other services enabled by this network such as the deferred settlement fund transfer service...."2 January 2016 January 17, 2016: Bahrain's non-oil sector grew 4.2 percent in the first nine months of 2015. "In recent months, Bahrain has seen a number of developments in the financial services, ICT and manufacturing sectors. In November the Central Bank of Bahrain, in collaboration with the local Benefit Company, launched a pioneering Electronic Fund Transfer System (EFTS) that connects all retail banks in the Kingdom with each other and with major billers in order to increase the efficiency of fund transfers."3 May 2016 May 25, 2016: A roundtable session organized by the Economic Development Board of Bahrain was held in Bahrain Financial Harbour and focused on ways to promote innovation in payment services.
    [Show full text]
  • Bahrain and the Fourth Industrial Revolution
    Munich Personal RePEc Archive Bahrain and the Fourth Industrial Revolution Lopez, Claude and Bendix, Joseph and Servin, Cesar Milken Institute January 2020 Online at https://mpra.ub.uni-muenchen.de/98514/ MPRA Paper No. 98514, posted 11 Feb 2020 10:46 UTC Bahrain and the Fourth Industrial Revolution Claude Lopez, PhD, Joseph Bendix, and Cesar Servin ABOUT THE MILKEN INSTITUTE The Milken Institute is a nonprofit, nonpartisan think tank. For the past three decades, the Milken Institute has served as a catalyst for practical, scalable solutions to global challenges by connecting human, financial, and educational resources to those who need them. Guided by a conviction that the best ideas, under-resourced, cannot succeed, we conduct research and analysis and convene top experts, innovators, and influencers from different backgrounds and competing viewpoints. We leverage this expertise and insight to construct programs and policy initiatives. These activities are designed to help people build meaningful lives, in which they can experience health and well-being, pursue effective education and gainful employment, and access the resources required to create ever-expanding opportunities for themselves and their broader communities. ©2020 Milken Institute This work is made available under the terms of the Creative Commons AttributionNonCommercialNoDerivs 3.0 Unported License, available at creativecommons.org/licenses/by-nc-nd/3.0/. BAHRAIN AND THE FOURTH INDUSTRIAL REVOLUTION Claude Lopez, PhD, Joseph Bendix, and Cesar Servin ABSTRACT The launch of the Bahrain FinTech Bay in 2018 was a significant step for Bahrain toward becoming a technology and innovation hub. It continues to develop its infrastructure to enable the developments using Fourth Industrial Revolution- relevant technology while updating the corporate governance framework in an attempt to curtail investor uncertainty and exposure in the region.
    [Show full text]
  • The Venture Capital Investment Bank Concept
    THE VENTURE CAPITAL INVESTMENT BANK CONCEPT PIONEERED BY VENTURE CAPITAL BANK (VCBANK) IN THE GCC AND MENA REGION IS THE FIRST INITIATIVE OF ITS KIND THAT IS PRESENTED AND FORMULATED IN AN INVESTMENT BANKING CONTEXT. BY INCORPORATING VENTURE CAPITAL INVESTMENT ACTIVITIES IN A SHARI’AH COMPLIANT INVESTMENT BANKING FORMAT, VCBANK IS ADDING A NEW DIMENSION TO THE REGIONAL AND GLOBAL ISLAMIC INVESTMENT BANKING INDUSTRY THE VENTURE CAPITAL INVESTMENT BANK CONCEPT PIONEERED BY VENTURE CAPITAL BANK (VCBANK) IN THE GCC AND MENA REGION IS THE FIRST INITIATIVE OF ITS KIND THAT IS PRESENTED AND FORMULATED IN AN INVESTMENT BANKING CONTEXT. BY INCORPORATING VENTURE CAPITAL INVESTMENT ACTIVITIES IN A SHARI’AH COMPLIANT INVESTMENT BANKING FORMAT, VCBANK IS ADDING A NEW DIMENSION TO THE REGIONAL AND GLOBAL ISLAMIC INVESTMENT BANKING INDUSTRY THE VENTURE CAPITAL INVESTMENT BANK CONCEPT PIONEERED BY VENTURE CAPITAL BANK (VCBANK) IN THE GCC AND MENA REGION IS THE FIRST INITIATIVE OF ITS KIND THAT IS PRESENTED AND FORMULATED IN AN INVESTMENT BANKING CONTEXT. BY INCORPORATING VENTURE CAPITAL INVESTMENT ACTIVITIES IN A SHARI’AH COMPLIANT INVESTMENT BANKING FORMAT, VCBANK IS ADDING A NEW DIMENSION TO THE REGIONAL AND GLOBAL ISLAMIC INVESTMENT BANKING INDUSTRY THE VENTURE CAPITAL INVESTMENT BANK CONCEPT PIONEERED BY VENTURE CAPITAL BANK (VCBANK) IN THE GCC AND MENA REGION IS THE FIRST INITIATIVE OF ITS KIND THAT IS PRESENTED AND FORMULATED IN AN INVESTMENT BANKING CONTEXT. BY INCORPORATING VENTURE CAPITAL INVESTMENT ACTIVITIES IN A SHARI’AH COMPLIANT INVESTMENT BANKING FORMAT, VCBANK IS ADDING A NEW DIMENSION TO THE REGIONAL AND GLOBAL ISLAMIC INVESTMENT BANKING INDUSTRY THE VENTURE CAPITAL INVESTMENT BANK CONCEPT PIONEERED BY VENTURE CAPITAL BANK (VCBANK) IN THE GCC AND MENA REGION IS THE FIRST INITIATIVE OF ITS KIND THAT IS PRESENTED AND FORMULATED IN AN Annual Report INVESTMENT BANKING CONTEXT.
    [Show full text]
  • Financial Capability 2021 V5 No
    Financial Services Capabilities 2 Financial Services Capabilities 3 Financial Services Capabilities 4 Financial Services Capabilities 5 Financial Services Capabilities 6 Financial Services Capabilities 7 ➢ Transaction services ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ Taxation ➢ ➢ ➢ Technology Advisory ➢ ➢ ➢ ➢ ➢ Legal and Regulatory ➢ Compliance ➢ Business Process ➢ ➢ ➢ Solutions ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ Financial Services Capabilities 8 Banking and Finance Asset Management Insurance ▪ Bank of Bahrain and Kuwait ▪ RA Holding (Previously Arcapita Bank) ▪ Bahrain Kuwait Insurance Company (gig ▪ Bahrain Islamic Bank ▪ GFH Financial Group Bahrain) ▪ Al Baraka Islamic Bank ▪ SICO ▪ Solidarity Bahrain ▪ Standard Chartered Bank ▪ Takaud Savings and Pension ▪ Life Insurance Corporation ▪ Bank Dhofar ▪ Tadhamon Capital ▪ Medgulf Takaful ▪ Citibank ▪ Nomura Investment Banking ▪ Bahrain National Holding ▪ Gulf International Bank ▪ Global Investment House ▪ Takaful International (gig Takaful) ▪ Ithmaar Bank ▪ Acacia Investments ▪ The Mediterranean & Gulf Insurance & ▪ Palestine Investment Bank ▪ Al Ahlia Bahrain B.S.C. (c) Reinsurance Company (Medgulf) ▪ Bahrain Development Bank ▪ Alpine Wealth Management ▪ Gulf Union Insurance & Reinsurance ▪ Eskan Bank ▪ NCB Capital ▪ Arab War Risk Insurance Syndicate ▪ Al Salam Bank ▪ Investrade Company ▪ Arab Insurance Group ▪ State Bank of India ▪ GB Corp ▪ United Insurance Company ▪ United Bank Limited ▪ Ibdar Capital ▪ New India Assurance Company ▪ Bank of Khartoum ▪ Gulf One Capital ▪ SBI Life Insurance
    [Show full text]
  • Investor's Guide To
    Investor’s Guide to Bahrain ALBA Aluminium Bahrain ASRY Arab Shipbuilding and Repair Yard BATELCO Bahrain Telecommunication Company BAS Bahrain Airport Services BIEC Bahrain International Exhibition Centre GCC Gulf Cooperation Council IDD Industrial Development Directorate OBU Offshore Banking Units SMEU Small and Medium Enterprises Unit During the last few decades, the Government of Bahrain has been implementing a national industrial development policy aimed at building a strong and diversified industrial base and reducing the dependence on oil. The successful implementation of that policy has resulted in the growth of several major industries in Bahrain in the aluminium, petrochemical, iron and steel, engineering, ship repair and other sectors. The success of those major industries has, in turn, generated numerous downstream industrial investment opportunities, especially in the small- and medium- scale sector. The UNIDO Investment Promotion Service Office (IPSO) was established in Bahrain in April 1996 with the prime objective of further encouraging industrial investment in Bahrain through the identification of viable industrial projects, preparation of project profiles and promotion of the same to investors. I am happy to note that the IPS Office is publishing this updated version of the Investor’s Guide to Bahrain. I trust that the guide, which provides various information of interest to investors, will be of immense use to investors and visitors to Bahrain. Shaikh Isa Bin Ali Al Khalifa Minister of Oil and Industry III UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION INVESTMENT PROMOTION SERVICE OFFICE (IPSO) in Bahrain United Nations Industrial Development Seoul, Tokyo, Warsaw and Vienna. In Organization (UNIDO) is the specialist addition, there is an outer network of focal agency of the United Nations dedicated to points (e.g., for the United Kingdom, bringing a better life through industrial Walloon region of Belgium, St.
    [Show full text]