Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi-KFH signs deal with Al-Omran Company   Join our daily free Newsletter

MENAFN - Arab Times - 19/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Al-Omran Company, which is one of the mega companies in Saudi Arabia, inked a financial consultation agreement with Saudi-Kuwaiti Finance House. The bank will shoulder the responsibility of executing the group's financial restructuring. Such a step highlights the bank's leading status, and underscores its abilities and organizational skills. Chairman of Al-Omran Company Mohammed Al-Omran stated after inking the deal that choosing the bank as the company's financial advisor was based on several professional and technical criteria, not to mention the bank's staff that is known for its high professionalism and extensive experience in the field of financing corporations



Meanwhile, CEO of Saudi-Kuwaiti Finance House Tarek Al-Rekheimi lauded the company for entrusting the bank with its financial restructuring, and explained that this agreement cements the bank's status in the field of offering consultations and financial services, not only in Saudi Arabia, but in the GCC region. He added that the bank will study the company's current situation and future plans, then prepare necessary recommendations to fund its expansive programs, whether through acquiring existing corporations, or private offerings to a group of strategic investors, before preparing the group for public offering. Moreover, Al-Rekheimi noted that the bank has extensive experience in the field of restructuring and funding companies, since the bank has a strategic vision to operate as a strategic financial partner with its clients, whether shareholding or family companies, in addition to companies that have clear financial plans that meet the requirements of the Saudi bourse



He mentioned that the bank is a closed Saudi shareholding company with a fully-paid capital of SR500 million, and is owned by Kuwait Finance House (KFH). KFH-Group is considered to be one of the largest Islamic banks worldwide with assets exceeding USD 50 billion. It also has accumulative experience in structuring, issuance of Sukuk, funding of projects, consolidated Islamic finances, and private investments. The bank owns a wide network of banks that stretches into Kuwait, Turkey, Malaysia, Bahrain, Jordan, and Germany; in addition to owning in Saudi Arabia KFH Real Estate Company with a capital of SR 2.5 billion



Al-Omran Company owns several factories that manufacture air-conditions, coolers, shelves, refrigerators, and plastic. The company that has been operating since 1398 Hijri, continues its efforts to develop its products to meet the growing demand of local and regional markets. The company recruits a group of experienced engineers and technicians that conduct studies. The company has recently established a research and development division to develop its products. This agreement goes hand-in-hand with the company's strategy to diversify its investments in the manufacturing field, and setup an integrated system for its factories and products




 


Arab Times




  MENA News Headlines
 Nov 23 2014 - Qatar- Saudi Deputy FM Receives Copy of Credentials of Qatar's AmbassadorQatar News Agency
(MENAFN - QNA) Saudi Deputy Minister of Foreign Affairs Prince Abdulaziz bin Abdullah bin Abdulaziz Al-Saud received a copy of credentials of HE Sheikh Abdullah bin Thamer Al-Thani as Qatar's ...

 Nov 23 2014 - Qatar- HE Prime Minister Holds Talks with Algerian CounterpartQatar News Agency
(MENAFN - QNA) HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani and HE the Prime Minister of Algeria Abdelmalik Sellal on Sunday co-chaired the 5th ...

 Nov 23 2014 - Qatar Takes Part in 31st Meetings for GCC Labor and Social Affairs MinistersQatar News Agency
(MENAFN - QNA) Qatar will take part in the 31st meetings for GCC Ministers of Labor and Social Affairs which will be held from 24 to 25 November in Kuwait. HE the Minister of Labor and Social ...

 Nov 23 2014 - Kuwait- Parliament Speaker Meets Tajik FMQatar News Agency
(MENAFN - QNA) Kuwaiti National Assembly Speaker Marzouq Ali Al-Ghanem met here on Sunday the visiting Minister of Foreign Affairs of the Republic of Tajikistan, Sirodjidin Aslov. Talks between ...

 Nov 23 2014 - OPEC won't cut production ceiling say Kuwaiti expertsArab Times
(MENAFN - Arab Times) KUWAIT Nov 22 (KUNA): The Organization of Petroleum Exporting Countries (OPEC) will not likely lower oil production ceiling in its upcoming Nov 27 meeting two Kuwait oil experts ...

 Nov 23 2014 - KFH unit Kuveyt Turk wins awardArab Times
(MENAFN - Arab Times) ISTANBUL Nov 18 (Agencies): Kuveyt Turk won GFC Global Financial Conferences' Bonds & Loans Award for Islamic Capital Markets Deal of the Year at Esma Sultan Palace last ...

 Nov 23 2014 - Qatar- HH the Emir Meets Uruguay AmbassadorQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani met today at his Emiri Diwan Office with Ambassador of the Republic of Uruguay Jose Luis Remedi whose term of office has expired At the ...

 Nov 23 2014 - Somalia's Culture Minister Meets Charge D'affaires of Qatar's EmbassyQatar News Agency
(MENAFN - QNA) Somalia's Minister of Culture and Higher Education Duale Adam Mohammed conferred with Charge D'affaires of Qatar's Embassy in Somalia Hasan bin Hamza Asad Mohamed. The meeting ...

 Nov 23 2014 - Qatar- Foreign Minister's Assistant Meets Vietnamese CounterpartQatar News Agency
(MENAFN - QNA) HE the Foreign Minister's Assistant for Foreign Affairs met here on Sunday with Vietnamese Deputy Foreign Minister Pham Quang Vinh. The meeting dealt with bilateral ties and means to ...

 Nov 23 2014 - Law protects 'expatriates'Arab Times
(MENAFN - Arab Times) KUWAIT CITY Nov 21 (KUNA): Director- General of the Public Authority for Manpower Jamal Al-Dosary on Thursday reaffirmed commitment of the authority to protect expatriate ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help