Khaleej Finance & Investment announces its new corporate identity

Capivest, is the new name of the bank which is specialized in Islamic compliant investment activities. The Chief Executive Officer Mr. Nabil Hadi announced the new name in a press conference that was held at Diplomat Hotel in Manama (Bahrain), in the presence of bank's officers and heads of departments and a number of media representatives.

"Transformation to Capivest is one of the milestones of growth that KFI has witnessed during the past years"

Mr. Hadi said.

He added "The Bank has successfully concluded a number of transactions, which spanned not only Bahrain and the GCC countries only, but also selected developed and emerging markets in Europe, Middle East and Asia. These transactions targeted various sectors including technology; health services; building materials; retail; real estate; private equity; manufacturing and raw materials".

Speaking about KFI's financial results in 2006, Mr. Hadi said that the net income of KFI increased by 76%, operating income by 24% and the total assets by 184%.

Strategic Step

"The Bank has adopted a new corporate identity as part of its strategy to go beyond local and regional boundaries and to establish partnerships and alliances on international levels, thus to maintain pace with the changes witnessed by the banking sector in Bahrain and GCC countries", Mr. Hadi said.

He stated that "the designing of the new identity took approximately two years during which many studies and research were undertaken in order to develop a deeper understanding of current developments seen by both conventional and Islamic banking sectors".

"The new name (Capivest), a combination of two words 'Capital' and 'Investment', was selected due to its simplicity and direct expression of the nature of our business. The Bank's mission calls us to be a premier financial innovator that inspires the industry. The Bank's vision requires us, in every investment opportunity we provide, to engineer a difference in the financial future of our partners, in full adherence to the provisions of Islamic Sharia, ethical and professional values, transparency, integrity and long term partnerships with establishments and individuals with whom we share economical and financial interests and also future visions, principles and opinions", Mr. Hadi explained.

Rich History

Along with its previous name, Mr. Hadi stated that Khaleej Finance and Investment leaves a rich record of achievements that is a source of pride, and on which it shall found its new strategic direction. Recently, KFI successfully launched the US $ 200 million Indian Private Equity Fund, as well as the capital guaranteed Optimum Fund and IJARA 6, which is part of Ijara series. Furthermore, Aqari Real Estate has made a qualitative leap in 2006 when it attained a growth of nearly 11%. The construction of Falcon Cement Factory, the first cement factory of its kind in Bahrain, is due for completion shortly. This factory is a special initiative of KFI that is undertaken it via a number of partnerships that have been forged for this purpose.

"Last year, KFI raised its capital from US $ 21.9 million to US $ 52.5 million. The number of KFI employees has also increased in line with a plan to attract a higher caliber of specialized employees. The Bank has a motivation policy as well as training and rewarding programmes.

Furthermore, and in recognition of its achievements, KFI won a number of prestigious awards including "Deal of the Year for Bahrain 2005" from Banker magazine and "International Star Award for Quality 2006" from Business Initiative Directions". Mr. Nabil said.

During the ceremony, the Bank announced the launch of its new website (www.capivest.com) with a display of the contents of this site which maintains harmony with the new corporate identity. The new site presents, in a simple and practical manner, various information related to the Bank's activities and projects.