Masrafy, the first Islamic investment bank for women in Middle East to be based in Bahrain

The bank which will be known as Masrafy, aimed at targeting high net worth women in the region, will be located at the Bahrain Financial Harbour.

On this occasion Mr. Rashad Yousef Janahi expressed his gratitude to H.H. Sheikh Khalifa Bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain and various government departments and organizations and BMA for all their interest in Masrafy, a unique concept in the region.

'Many banks provide commercial banking services for the region's women but we do not have a bank dedicated to them for investment services and products. We consider Masrafy as the first bank in this field which will be run by women banking experts with high qualifications, offering women an opportunity to take part in regional investments,' he said.

Mr. Janahi further said that Masrafy has targeted to reach those women investors who tend to shy away from investments for lack of privacy thus enhancing their role in finance and business sectors. Some of the women investors like privacy in transactions which is why they need their own bank run by qualified women. He also added the bank will have strong Islamic and Arabic traditions.

Rashad Yousef Janahi said, 'Bahrain has been chosen as the location for the bank because the Kingdom is the financial hub of the region thanks to the wise leadership of the Kingdom. Bahrain is also a regional centre of Islamic banking.'

He said women in the Arab world have played a major role in the finance and business sectors in the last few years and Masrafy will give them an opportunity to participate in all investment opportunities in the region in line with their expectations.

Mr. Janahi said the studies and statistics from the region showed that women in the region have funds worth US$38 billion and there were no credible investment avenues to maximize returns from investing these funds in a professional manner. Masrafy will be capable to bridge this gap because the bank will have the strategic advantage of expertise in launching many projects in the region.

He also said Masrafy will tie up with many international banks for asset management, banking services etc. to serve women investors in Bahrain and the region. The bank will also tie up with institutions for risk management and to deploy corporate governance practices.

The shareholders of Masrafy will consist of high net worth individuals and a number of financial institutions like Qatar Islamic Bank and Kuwait Investment Company.