Doha, Qatar – The First Investor, a leading financial institution known for its Shariah-compliant investment banking and asset management solutions and owned by Dukhan Bank Group, has announced a strategic marketing partnership with Wasata Securities - Wasata, a prominent provider of investment services, to expand Wasata’s investment offerings and services to include Islamic Sukuk.

This strategic cooperation contributes to providing a strong platform that enriches the investment options available to the brokerage company’s clients by offering innovative, low-risk products that are compatible with the provisions of Islamic Sharia. In addition, benefiting from the extensive experience that First Investor has in local and global markets, along with its advanced capabilities in executing Sukuk, will give the brokerage company the ability to increase its product offerings to clients. This partnership will also consolidate First Investor’s position as one of the leading companies in the capital market, especially in the field of Sukuk, thanks to the prestigious Sukuk Fund that it manages, with assets exceeding QAR 450 million, in addition to the integrated services it provides in the field of Sukuk execution. This partnership enhances “Wasata’s” position in the field of financial solutions, and enhances its capabilities to provide a diverse range of safe and reliable investment opportunities to its clients.

On this occasion, Mr. Haitham Qaterji, CEO of First Investor, stated: “We are pleased to cooperate with a brokerage company to provide investment opportunities in global capital markets, especially in Sukuk, through this partnership that demonstrates our firm commitment to providing financial solutions specifically designed to meet the aspirations of investors, at a time when we emphasize the importance of enhancing the culture of local investment and savings.”

For his part, Mr. Mohammad Abu Ghosh, CEO of Wasata, stated: “This partnership represents an important step towards enhancing our capabilities to provide our clients with a wide range of investment opportunities in the field of Sukuk. This fruitful cooperation is not only a great gain for our two companies, but also a great gain for our valued clients.”

It is worth noting that First Investor and Brokerage Company are dedicated to building long-term relationships with their clients, and working together to drive joint growth by providing smooth investment solutions that are compatible with the provisions of Islamic Sharia.

About Dukhan Bank:

Dukhan Bank Q.P.S.C. was incorporated in the State of Qatar as a Qatari Shareholding Company with Commercial Registration No. 38012 dated 28 January 2008 (“Incorporation Date”). Dukhan Bank (“the Bank”) commenced its operations on 1 February 2009 under Qatar Central Bank License No. (R.M/19/2007). The Bank and its subsidiaries (collectively referred to as the “Group” and individually as the “Group Companies”) are primarily engaged in financing, investment and advisory activities in accordance with the rules and principles of Islamic Shari’a as determined by the Shari’a Supervisory Board of the Bank and in accordance with the provisions of the Bank’s Memorandum of Association and Articles of Association. Investment activities are undertaken for the purpose of the capital holders and on behalf of clients.

The Bank operates through its main branch located in Lusail City, Doha, and nine branches spread across the State of Qatar. The Bank is owned by the following entities: General Retirement and Social Insurance Authority with a 24.6% stake, Military Pension Fund (Qatar) with an 11.7% stake, Qatar Holding Company (the direct investment and strategic arm of the Qatar Investment Authority, which represents the sovereign wealth fund of the State of Qatar) with a 7.0% stake, and the remaining shares are owned by a number of individuals and companies. The Bank changed its brand from Barwa Bank to Dukhan Bank during October 2020 after obtaining the necessary approvals in accordance with the laws and regulations in force in the State of Qatar.

On January 22, 2023, pursuant to Resolution No. 2 of 2023 issued by the Ministry of Commerce and Industry, the Bank was converted from a Qatari private shareholding company to a Qatari public shareholding company, and this was officially announced at the Constitutive General Assembly meeting held on January 25, 2023. On February 1, 2023, the Qatar Financial Markets Authority approved the listing of the Bank’s shares on the Qatar Stock Exchange.

Following the approval of the Qatar Financial Markets Authority, trading of the Bank’s shares on the Qatar Stock Exchange commenced on 21 February 2023. The Bank was included in the MSCI Emerging Markets Index effective from 31 May 2023. On 15 September 2023, the Bank was included in the FTSE Mid-Cap Index. The Qatar Stock Exchange listed the Bank’s Qatar Stock Exchange Index and the Qatar Stock Exchange Al Rayan Islamic Index effective from 1 October 2023.

About the First Investor

First Investor is a subsidiary of Dukhan Bank PJSC. It is licensed and regulated by Qatar Central Bank as an investment company providing asset management and financial advisory services. It is a leading Sharia-compliant financial services company based in Qatar. The company always strives to achieve excellence, providing comprehensive financial solutions and strategic financial guidance. First Investor has a range of the most diverse and innovative investment products and services in the region, covering high-growth sectors with long-term potential.

The company has been keen to grow its asset management business over the years and currently manages over QAR 2.6 billion of assets, which are invested across different asset classes. Additionally, members of its Financial Advisory team have advised several Qatari companies and the value of advisory transactions has exceeded QAR 11 billion.

First Investor is keen on fostering long-term relationships based on trust. Its client base is broad and includes government entities, government-related entities, corporations, family offices, and high-net-worth individuals. The company is distinguished by its adoption of transparency, reliability, innovation, and a client-centric approach, which has enabled it to become a pioneer in investment solutions in light of the ongoing global financial volatility.

About Securities Brokerage Company:

Securities Brokerage Company (formerly Islamic Securities) is a wholly owned subsidiary of Enma Holding Company, a public shareholding company listed on the Qatar Stock Exchange. Securities Brokerage Company was established in 2003 to provide financial brokerage services to investors on the Qatar Stock Exchange. In early 2020, the company obtained the classification of “Comprehensive Broker” as approved by the Qatar Financial Markets Authority to provide the following services:

1. Executing securities trading orders on behalf of others.
2. Trading securities for one's own benefit.
3. Providing advice on securities.
4. Providing liquidity.
5. Opening new markets.
6. Marketing and promotion of securities.

During this period, the brokerage firm achieved excellent results and outstanding performance in its licensed activities, which contributed to consolidating its position as one of the most prominent contributors to the activities of the stock market in Qatar. The brokerage firm continues to enhance its growing presence and active participation in the trading of shares listed on the Qatar Stock Exchange, whether through brokerage, trading, market making or liquidity provision services.

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