Trade Bank of Iraq to launch investment fund

Investment_portfolioThe Trade Bank of Iraq (TBI) has teamed up with Dubai-based asset manager Alpen Asset Advisers to launch the Dananeer Fund, a $100 million investment vehicle. The fund will be legally structured as a segregated portfolio class B of Alpen’s and will be domiciled in the Cayman Islands and regulated by the Cayman Islands Monetary Authority. “I am pleased to launch this new investment scheme offering our clients an opportunity to diversify their investments and potentially increase their returns,” said Faisal Al-Haimus, chairman and president of TBI. The fund launch follows the bank’s stated aim in July to expand its presence in the Gulf and to widen its revenue streams by growing its asset management business. In addition to the Dananeer Fund, TBI is upgrading its licence in Abu Dhabi to an asset management company from a representative office. ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...


ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.