Co-Chief Executive Officer of QInvest Hussain Abdulla affirmed that the coming period would witness further expansion of investments in the Qatari market, which is recording high growth rates - taking advantage of the recovery seen by the global oil and gas markets and the positive repercussions of organizing the activities of the FIFA World Cup Qatar 2022.
In an interview with Qatar News Agency (QNA), Co-CEO of QInvest explained that advisory services are currently active in the local market, underscoring the expectation that in the coming period, it will be possible to announce listings, mergers, and subscriptions in the Qatari market.
In a related context, Abdulla denied any tendency at the present time to list the bank's shares on the Qatar Stock Exchange (QSE), noting that the bank does not have a plan to list on the QSE in the short and medium term, given the current market situation around the globe, especially investment banking.
The volume of investments managed by QInvest amounts to approximately QR 5.25 billion (USD 1.4 billion) in the various markets in which it is located, of which the Qatari market represents 33 percent of the bank's total investment portfolio, he continued.
He pointed out that the estate sector and fixed income instruments, including Sukuk, are among the most prominent channels in which the bank invests in the national market, which is expected to be strengthened in the coming period from various sectors.
In this context, he talked about the establishment of Epicure Investment Management (EIM), which is a Qatari company specialized in the field of Islamic asset management, in partnership with Qatar Insurance Company (QIC), adding that EIM aspires to strengthen its presence in the asset management sector and structuring investment products.
The new entity will focus on providing a broader portfolio of Islamic asset management products and solutions, from investing to developing and structuring innovative Islamic investment products, he said, pointing out that EIM is currently managing approximately QR one billion and 800 million.
This deal is a strong testament to QInvest's continuous efforts to enhance their services, products, and investment solutions in Qatar, he said, adding that the company looks forward to launching a wider range of products and solutions that are compatible with the principles and provisions of Islamic Sharia, to meet the requirements of investors.
Co-CEO of QInvest explained that advisory services are currently active in the local market, noting the possibility to announce mergers and subscriptions in the Qatari market soon, given that QInvest is a pioneer in this field.
Despite the fluctuations and turbulence of global markets, Hussain Abdulla stressed that the bank's 2022 strategy focused on selecting investments with sustainable returns in the long term and low in fluctuations, which contribute to overcoming market fluctuations.
QInvest has offices based in Doha and Istanbul, as well as subsidiaries in India and UK. The bank's team of investment experts offers a combination of extensive international experience, deep regional knowledge, and an exceptional network of relations.
Source: Qatar News Agency (QNA)