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Investment Dar funds Asian expansion

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 03 December 2007

Kuwait's Investment Dar said on Monday it is to target investment opportunities in Asia with the proposed launch of a $300 million syndicated murabaha facility.

HSBC Amanah and Standard Chartered Saadiq will underwrite the facility, which will allow the investment company to diversify into new investment opportunities and strategic alliances.

The announcement was made following a tour by the senior management of Investment Dar and its underwriting banks to Singapore and Kuala Lumpur.

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"As a company that intends to lead the world of Islamic finance through continual innovation to meet our customers' needs, we expect markets such as Singapore and Kuala Lumpur to play an important role in the future growth of Islamic finance," said Adnan Al-Musallam, chairman and managing director of Investment Dar.

"As part of our on-going strategy, Investment Dar is seeking to not only diversify its global investor profile but to also target investment opportunities in regions such as Asia. With its fast growing economies and high Islamic population, we believe the region offers significant potential for investment into areas such as financial services assets."

Investment Dar previously bought a stake in Aston Martin and recently announced plans to launch its own Shariah compliant stock exchange in Kuwait.

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