Qatar First Bank LLC (QFB) recently sold 44 percent of its shares in a leading healthcare platform for Abu Dhabi, Dubai, Sharjah and Kuwait.
“This has been a very good investment for
the bank, and we still hold shares in the group to benefit from future upside,” Ihab Asali, QFB managing partner for alternative investments, said. “We are
delighted to have contributed to their continuing success, which surely
strengthened their expansion plans and capabilities in providing global reach
and best practices within the healthcare industry.”
QFB’s decision comes after a downward
revision in valuations of some of its investments in 2016, specifically due
to events in Turkey and the United Kingdom. The bank, which is a leading Shari’ah compliant
bank, retains a diversified portfolio in terms of sector and geography.
“QFB’s strategy focuses on our role as a
trusted advisor, a gateway for investors who wish to tap into innovative,
Shari’ah compliant, investment opportunities in local, regional and global
markets,” Ziad Makkawi, CEO of QFB, said. “During 2017, we will continue to
diversify our portfolio and focus on business services, healthcare, education
and real estate sectors while expanding into new geographical markets
regionally and internationally. We are well-positioned to provide capital
solutions to growing businesses in the region that will benefit from our
experience and network.”
