AlRaya Investment Company to host visiting delegation
- Kuwait: Monday, June 23 - 2008 at 16:05
- PRESS RELEASE
Citigroup set to conduct high-profile visit to Kuwait and meet with H.H. The Amir and KIPCO and AlRaya Executives.
The delegation will also conduct during its visit to Kuwait a meeting with top executives at the Kuwait Projects Company (KIPCO) and AlRaya Investment Company.
Citigroup's Chairman Sir Winfried Biscoff and Citigroup Chairman of Institutional Clients Group Michael Klein are also set to meet with high-ranking officials in Kuwait.
Citigroup's venture with AlRaya Investment Company is seen as the first authentic step of the Amir's desire in turning Kuwait into a financial hub. "On behalf of our company, we thank His Highness the Amir for his vision in granting us the opportunity to become part of Kuwait's financial expansion which is a part of the preliminary initiatives to modernize Kuwait's national economy for the future" said Mr. Faisal Al-Ayyar, KIPCO's Vice Chairman, commenting on this occasion.
The venture between both renowned organizations is bound to create differentiated investment solutions that are tailored to ultimately suit Kuwait's thriving economy, and meet the highest international standards in performance and quality.
"KIPCO welcomes the Amir's vision in developing Kuwait into a financial hub, which coincides with the idea of Kuwait opening its doors to a more positive economic growth," added Mr. Al-Ayyar.
In his comment on the new venture, Mr. Hazem Al-Braikan, Vice Chairman and CEO of AlRaya Investment said: "We at AlRaya Investment would like to play a vital role in bringing the vision of H.H. the Amir of Kuwait into realty, and we hope to become part of Kuwait's economic and financial success in the near future. In addition, we believe that our unique line of business and operations will open up a new field in Islamic finance and investment as a growing and developing industry, and will enable Islamic Finance to tap into the largest asset class globally, that is Global Equity."
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