Asiamoney awards Global as the "Best Investment Bank" in Kuwait

This is the first time the publication includes the GCC region, so it is of particular importance as Global is the inaugural winner in Kuwait.

Mr. Omar El-Quqa, Executive Vice President at Global said "we are honored to be recognized by Asiamoney as the Best Investment Bank in Kuwait in its first awards for excellence that cover the GCC countries".

In its June issue, Asiamoney magazine included two categories for each of the 6 GCC countries, one as Best Commercial Bank and the other "Best Investment Bank" which has chosen Global.

Asiamoney, the Asian based and focused sister publication of Euromoney was launched in 1989 and has been providing leading reporting and analysis of the financial and investment markets for capital issuers, borrowers, and institutional investors with business interest in the Asia Pacific countries.

Global was named as the Best Investment Bank in Kuwait due to the role it is playing in developing the Kuwaiti capital market through on-going investment banking deals and transactions that the company undertakes supported by second to non research capabilitis.

Mr. El-Quqa added, "Global is considered a major player in the investment banking industry on both the equity and dept finance.

Our investment banking transactions have always generated tremendous investors' interest in the region

The company acted as a lead manager for several successful transactions in Kuwait and the region.

One of these transactions is the private placement for Al Fajer Retakaful Company with a total paid up capital of KD50m, the largest Islamic reinsurance company in the World (by paid up equity capital) and one of the first few retakaful companies to be set up in the MENA region".

On the other hand, Global is also considered a major player in the dept finance market and has further developed the corporate bond and Islamic financing market in the region.

The total size of Murabaha financing arrangements done by Global amounted to 119 deals worth KD246.8m ($925.5m) in 2007.

Mr. El-Quqa added "We have started last week the private placement for Mazaya Saudi Arabia and we have seen very high demand from our clients in Kuwait and the region. This interest emphasizes our leading position in presenting excellent investment opportunities to our clients."

It is worth mentioning that Mazaya Saudi will operate as a real estate development company in the Kingdom of Saudi Arabia in order to capitalize on the opportunities available in the Saudi Arabian real estate sector, which is known to be a vibrant, growing and a lucrative market.

Mr. El-Quqa ended by thanking the international financial magazine for recognizing Global for this award and considering the GCC countries for the first time.