Islamic Investment Company of the Gulf (Bahamas) Ltd.
Islamic Investment Company of the Gulf (Bahamas) Ltd. has established extensive track record in tailoring innovative asset management portfolios. IICG is a wholly owned subsidiary of Dar Al-Maal Al-Islami Trust (Bahamas) “DMI”.
DMI operates through its principal subsidiary IICG. DMI flagship companies include its associate Ithmaar Bank B.S.C., Shamil Bank of Bahrain B.S.C., Faisal Private Bank( Switzerland ) , Faysal Bank Limited (Pakistan) and Ithmaar Development Company ( IDC). The group is well entrenched in the business capitals of the Middle East and has sound long-term business relations with the prestigious corporate business houses in the region.
IICG was incorporated as a limited liability company in the commonwealth of Bahamas in 1989. IICG has established a strong a network spanning 4 continents with 7 subsidiaries with Funds Under Management of over US $1.6 billion at 31 December 2007. IICG’s activities are principally to act as manager,on a trustee basis , a series of investment funds in accordance with Islamic laws and principles. IICG has developed expertise in real estate fund management and has floated a series of Modarabas for investment mainly in US real estate over the last few years. It has also extended the real estate investments into Europe, Canada and the Kingdom of Saudi Arabia through flotation of various Modarabas .
IICG participates in structured trade finance deals through open-ended Modaraba funds with deals in the Kingdom of Saudi Arabia, UAE, Egypt, Turkey, Pakistan, Korea, Malaysia, UK and USA. IICG Management Information Systems is well equipped with the latest state of art Information Technology and strong Financial Control functions to support asset management and clients. Investment funds are offered to the public through a network of 27 Marketing Offices located in the Kingdom of Saudi Arabia, United Arab Emirates and Egypt catering to over 28,000 clients.
Faysal Bank Limited
Faysal Bank started operations in Pakistan in 1987, first as a branch set-up of Faysal Islamic Bank of Bahrain and then in 1995 as a locally incorporated Pakistani bank under the present name of Faysal Bank Limited. On January 1, 2002, Al Faysal Investment Bank Limited, another group entity in Pakistan, merged into Faysal Bank Limited which resulted in a larger, stronger and much more versatile institution.
Faysal Bank Limited is a full service banking institution offering consumer, corporate and investment banking facilities to its customers. The Bank’s widespread and growing network of branches in the four provinces of the country and Azad Kashmir, together with its corporate offices in major cities, provides efficient services in an effective manner.
The strength and stability of Faysal Bank Limited is evident through the Credit Rating assigned by JCR-VIS Credit Rating Company Limited of “AA” (Double A) for long to medium term and “A-1+” (A One Plus) for short term.
The majority share holding of Faysal Bank Limited is held by Ithmaar Bank B.S.C an investment bank listed in Bahrain.