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Diwan Capital joins DIFC

The Dubai Financial Services Authority (DFSA) has granted a category 2 license to Diwan Capital Ltd. (D1) and the Dubai International Financial Centre (DIFC) has welcomed D1 as its newest member.

  • United Arab Emirates: Wednesday, March 26 - 2008 at 07:27
  • PRESS RELEASE


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From right to left: Mr. Robert A. Bertschinger, CEO of D1and Mr. Nasser Alshaali, CEO of DIFC Authority.
From right to left: Mr. Robert A. Bertschinger, CEO of D1and Mr. Nasser Alshaali, CEO of DIFC Authority.


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'The launch of Diwan Capital is a timely and important move for investors in the region, as well as for those investing in the GCC', says Nasser Alshaali, CEO of DIFC Authority, 'The market for derivatives has huge potential and Diwan Capital extends the ability of Dubai and the DIFC to offer world-class financial products within an effective regulatory and operating environment.'

D1 is the first boutique investment bank in the GCC to focus on the engineering, selling, and trading of options, structured products, and securitized derivatives based on local and GCC equities as its core business. A derivative product can be structured as a contract or a security whereby its value is derived from an underlying asset. Such products are designed to meet investor needs that cannot be met by standardized financial instruments available in the markets.

'We want to inspire investors in the region,' says HE Mr. Buti Saeed Al Ghandi, Chairman of Emirates Investment & Development PSC (a co-founder of D1), 'because we believe that innovative and attractive products bring fundamental benefits to the capital markets of the region. D1 has both the expertise and acumen to engineer, list and trade products specifically for GCC investors.'

'D1 is a pioneer in providing investors with the opportunity to trade derivates in Dubai; strengthened by a combination of Western expertise, a strong management team and regional backing, and knowledge of the GCC and Kuwaiti based shareholders,'



says Abdulwahab Ahmad Al-Nakib, Chairman and Managing Director of Al-Deera Holding Company KSCC, (KW:ALDEERA) who is also is a co-founder of D1.

D1 brings to Dubai a world-class team with decades of experience with major global banks. The mission of D1 is to cater to the fast-growing needs of GCC investors for instruments to optimize, enhance, hedge, and restructure their equity portfolios. D1 aims to become the leader in providing such instruments to banks, financial institutions, family offices, and corporations. Global growth of derivative markets has been critical to financial market development as investors can exchange risks..

'We are very pleased and proud to be the first institution to be licensed with a declared derivatives focus, and we aim to lead and support the development of regional derivatives,' says Mr. Robert A. Bertschinger, CEO of D1, 'The more players join, and the more advanced skills are deployed; the deeper the market, the better for all participants, in particular for D1 with its proprietary risk management and trading technologies.'

'D1 will maintain secondary markets for its product range through the lifetime of the derivative instrument. That makes D1 products tradeable and their prices observable much like a common share,' says Chris Biedermann, Head of Trading. 'Introducing products and markets for investors to leverage upside or to insure against risk proved to be the most important step for any developed market to become more liquid. The more liquid markets are, the less likely price gaps are sustained. As a result, markets may become less volatile and thus less risky,' he says.

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Notes and media contacts

For further information please contact:

Investor enquiries should be directed to:
Chris Biedermann, or Heimo Hirn
Diwan Capital Limited
Direct tel: +971 4 509 8720/+971 4 509 8741
Mobile: +971 50 140 5516/+971 50 157 3428

Media enquiries:
Rudolf Dällenbach
Diwan Capital Limited
Direct tel: +971 4 509 8740
Mobile: +971 50 857 2488

Alexander McNabb or Mai Abaza
Spot On Public Relations
Tel: 04 349 1686

Media enquiries - DIFC:
Amira Abdulla
PR Manager
Tel: +971 4 362 2433
Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432

Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 4 362 2685
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.

In just three years, over 550 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

About Emirates Investment & Development Company PSC:
Founded in 1997, Emirates Investment & Development Company PSC (Emivest) aims at providing credible investment and development services to support regional economy, social and environmental progress.

Emivest invests and develops in the manufacturing, horticulture, construction, real estate, education, transport, telecom and finance sectors. Emivest's impressive portfolio includes Emirates Investment & Development PSC, Desert Landscape, Desert Leisure, Desert Rockcraft, Desert Turfcare, Dubai Garden Centre, Wahat Al Sahraa, Prisma Space Frame System, Prisma Windows & Doors, Proglass, Exclusive Acrylic, Prometal, Centennial, The Canadian University of Dubai, Duplas Al Sharq, Ghadeer Mineral Water Company , BMC Gulf Group, CBS Technology and ETI Technology.

About AL-Deera Holding Company:
Established in 1998, Al-Deera Holding is a Kuwaiti shareholding company (Ticker: ALDEERA), listed on the Kuwaiti Stock Exchange since 2005, Al-Deera Holding Company is considered as one of the leading companies in its line of business. The Company focuses on investment in private and public companies which witness strong growth.

Since its inception, ALDEERA has adopted a balanced expansion strategy that allowed for mitigating risk, while maximizing investment return. By maintaining a diversified portfolio - both in terms of the geographical and industrial distribution of investments - the company
has been able to maintain steady growth in its net profits; as aresult of such a strategy.

ALDEERA's investments have also focused on building alliances and strategic partnerships that allow for developing the company's competitive edge especially in as far as competing for top-tier business opportunities is concerned.

www.aldeeraholding.com
Anne-Birte Stensgaard Posted by Anne-Birte Stensgaard, Senior News Editor
Wednesday, March 26 - 2008 at 07:27 UAE local time (GMT+4)

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