Capital Management House granted Islamic investment banking licence

This Wholesale Islamic investment banking license enables CMH to offer a wider range of wholesale banking products and services to its shareholders and client base as well as to receive banks and clients deposits.

CMH plans to expand its range of investment and financial products and services and to offer its shareholders and clients a wider range and mix of investment choice.

The expansion of its products and services will be backed by an ongoing programme of investment into extensive product and service developments, ensuring CMH is able to offer its clients best in class investment products and services in the region.

Mr. Khalid A. Al Bassam, Chairman of CMH, said:

"The award of our wholesale licence marks another significant milestone in CMH's growth story. The licence award will support our medium and long term strategy of creating value by offering leading market-oriented products and services."

Mr. Khalid M. Najibi, Vice Chairman and Managing Director of CMH, added:

"We will now be able to take our unique approach to investment to a larger market, supporting our value creation strategy. Despite the continuing economic conditions following the credit crisis, we see significant opportunities in the region for well capitalized and connected investment institutions. The licence award will take CMH to a new level of growth, with increasing investment opportunities being made available to our clients."

CMH raised its paid up capital to $100m. As at 30 June 2009 the shareholders' equity is $.131.7m.

By providing unique and creative solutions to clients' financial and investment requirements, CMH continues to focus on its vision to be its clients' investment bank of choice by maintaining a high level of integrity, diversity and product quality.