close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Dubai’s Ridge Capital buys Egypt asset firm Rashad

http://www.dreamstime.com/-image7223618

Dubai-based regional investment bank Ridge Capital has bought 100 percent of Egyptian asset management firm El Rashad Holding, which is expanding its Islamic financing business, its financial adviser said on Tuesday.

0

May 17, 2012 11:23 by



Dubai-based regional investment bank Ridge Capital has bought 100 percent of Egyptian asset management firm El Rashad Holding, which is expanding its Islamic financing business, its financial adviser said on Tuesday.

 

Rashad manages two funds, one for Misr Iran Bank and the other for National Bank of Egypt, and last month launched a third in Bahrain that specialises in Islamic investments, Karim Amin of Sempra Capital, which acted as Ridge’s adviser on the deal, told Reuters.

 

The new $100 million Bahraini fund has been licensed to raise money in Bahraini dinars. It will take money from funds in the Middle East and North Africa for investment in Sharia-compliant funds in Bahrain and elsewhere in the region, Amin said.

 

An emailed Sempra statement quoted Ridge official José Ferreira Ramos as saying: “We are optimistic about the prospects of the Egyptian economy and the financial services sector in Egypt, especially Islamic finance.”

 

Amin declined to provide other financial details on the transaction.

 

El Rashad Holding, which was formed in the early 1990s, sold its securities group earlier this year to another Dubai company, Arqaam Capital.

 

Ridge Capital is owned by Angola-based Ridge Solutions.

 

(Reporting by Patrick Werr; Editing by Will Waterman)



0

Tags: , , , ,

Leave a Comment