Both parties agreed towards finalizing the details, size and structure over the next couple months.
Mr. Ziad Makkawi, Chief Executive Officer, Dubai Bank, said: "Dubai Bank is very pleased to launch this initiative with ecmg. This initiative is core to the several initiatives that Dubai Bank intends to launch in the next couple of months, bringing world class investment banking, asset management and Islamic banking products to the regional markets. This MOU with ecmg is one step in that direction."
"The attendance of the German Federal Chancellor, Gerhard Schröder, at the MOU sign-off emphasizes the significance of this joint venture with Dubai Bank, which aims to be at the forefront of its chosen areas of expertise", commented Dr Tomas Vrana, member of ecmg AG's Board of Directors and part of the Chancellor's official economic delegation.
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Ecmg and Dubai Bank to collaborate in launching a ground-breaking innovative Islamic Private Equity Fund
- United Arab Emirates: Saturday, March 05 - 2005 at 16:57
- PRESS RELEASE
The German Chancellor, Gerhard Schroeder, today attended as part of his visit to the UAE the signing of a memorandum of understanding (MOU) between the European Corporate Management Group (ecmg AG) and Dubai Bank, agreeing on the creation and launch of a groundbreaking innovative Islamic German Buyout Private Equity Fund that would invest in German Middle Market Companies ("Mittelstandt").
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Dubai BankDubai Bank was launched in September 2002 and is a fully owned subsidiary of Real Estate major EMAAR Properties. Dubai Bank has already distinguished itself with its fresh approach to banking and unparalleled range of Retail and Corporate banking products and services. It is positioning itself as a world-class institution synonymous with modernity, excellence, and innovation.
ecmg AG
ecmg AG, is a leading independent corporate finance and private equity consultancy with an in-ternational focus and presence. It advises on entrepreneurial internationalization ventures. ecmg AG's specific focus is the Middle East as well as cross border investment and financing projects in Germany.
Contacts:
Dubai Bank
Fadi Mattar
Phone : + 971 4 317 81 98
Fax : +971 4 329 00 71
ecmg AG
Dr. Tomas Vrana
Member of the Board of Directors
ecmg AG
Phone: +49 201 36547 0
Posted by Lara Lynn Golden, News EditorSaturday, March 05 - 2005 at 16:57 UAE local time (GMT+4)
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