UIB has been recognised for its 'Regional Contribution for Vision in Islamic Finance', while Majid Al Sayed Bader Al-Refai, UIB's Founder and Chief Executive Officer, has been recognised for his 'Life and Continuing Contribution to Islamic Finance'.
On collecting the awards, Majid Al-Refai commented: 'It is a great honour and a
privilege for UIB to be recognised in this way. UIB was established less than two years ago with a vision of becoming an international Islamic investment bank. To be acknowledged by the International Islamic Finance Forum so early
on in the Bank's development attests to the hard work, innovation and dedication of all our team members'.
The awards ceremony was held under the patronage of His Royal Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister
of the United Arab Emirates (UAE) and Ruler of Dubai , who also met with Majid Al-Refai and personally presented the award to him, along with the other individual winners.
Unicorn Investment Bank recognised for 'Vision' at International Islamic Finance Forum Awards
Unicorn Investment Bank (UIB) has won two prestigious awards for its excellence and vision in the field of Islamic finance at the 9th International Islamic Finance Forum in Dubai.
- Bahrain: Tuesday, March 21 - 2006 at 16:00
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ABOUT UIB• Unicorn Investment Bank was capitalized at $111 million and commenced operations on May 5, 2004 in the Kingdom of Bahrain.
• In its first eight months of business, UIB achieved revenues of US $36m and earnings of US $17m.
• UIB recently reported second-year revenues of US $52.5 m and earnings of US $24m for 2005 financial year.
• UIB has achieved a number of 'firsts' in Islamic banking. In November, the Bank closed the 'KSA Real Estate Fund-1', the first ever equity fund to allow non-Saudi nationals to invest in the growing Saudi Arabian property market via an innovative financial and legal structure.
• In December, UIB announced 'Gulf Springs', the first pan-GCC real estate fund,in partnership with leading real-estate developers in each GCC market, who as founding investors, bring local knowledge and investment opportunities.
• UIB has recently closed 'KSA MBS 1 International Sukuk,' the GCC's first Sharia'h-compliant asset-backed security for the Kingdom of Saudi Arabia: a debt product designed for home financing companies akin to a mortgagebacked
security in partnership with a multilateral organisation and underwritten by a global institution.
• Since inception UIB has now advised, structured and successfully placed deals
with a total value in excess of US $1 billion.
ABOUT MAJID AL SAYED BADER AL-REFAI - Managing Director, Chief Executive Officer and Founder
Mr. Al-Refai is one of the pioneers of Islamic finance. Prior to founding UIB, he
established several other ventures, including First Islamic Investment Bank (renamed
Arcapita), Bahrain, formed through the acquisition of Majestic Global Investments,
Ltd. and Commerce MGI Sdn Bhd (Malaysia). He has held senior management positions at several leading financial institutions in the Middle East, including Dallah Al Baraka Group (KSA), Al-Tawfeek Company for Investment Funds (Bahrain), Al- Amin Securities Company (Bahrain) and Kuwait Finance House (Kuwait) and more recently was a Partner in The International Investor (Kuwait). A graduate of Purdue University, Indiana, USA, Mr. Al-Refai has an undergraduate degree in Chemical Engineering and an MS in Finance.
MEDIA CONTACTS
Mark Lunn / Alexandra Jackson-Proes
Gavin Anderson & Co, London
Bahrain Tel: +973 1756 6000
UK Tel +44 (0) 20 7554 1400
Posted by Lara Lynn Golden, News EditorTuesday, March 21 - 2006 at 16:00 UAE local time (GMT+4)
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