>Sunday, Jun 28, 2009 Gulf News Dubai: Capinnova Investment Bank Capinnova Investment Bank - the Sharia compliant investment banking subsidiary of BBK - on Saturday said it will co-invest in a project valued at $50 million (Dh183 million) in the retail sector. Construction of this large commercial project has begun and the scheduled completion date is expected to be the second half of 2010. This will be the largest commercial mall in Bahrain's Muharraq area which will be operated by a one of the most successful GCC retailers. Jamal Hijres, Capinnova Capinnova 's Chief Executive Officer, said: "It is a historic moment for us at Capinnova Investment Bank Capinnova Investment Bank as we have stepped into the country's vibrant retail sector to develop this state-of-the-art retail mall. "This growth capital financing transaction is a testimony of the bank's confident approach in supporting successful business initiatives. We are content with supporting our prominent clients with innovative Sharia compliant instruments that ensure a win-win position for all parties involved." Yasser Abbady, Senior Director, Head of Corporate Finance, Capinnova Investment Bank Capinnova Investment Bank , said: "The retail sector in Bahrain has proved to be resilient in the face of external global factors. In tandem Capinnova Capinnova continues to target opportunities in other sectors such as telecommunication, utilities, industrial, services and financial institutions to support raising growth funds or integration through merger and acquisition." Hijres added, " Capinnova Capinnova 's vision is to be a world class Islamic investment bank offering a range of high quality products and services to a diverse clientele." Staff Report © Gulf News 2009. All rights reserved. omar 1.1:zy
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