Business | Banking
Channel Sponsor
Mawarid Finance acquires Al Jazeera
Mawarid Finance has acquired Al Jazeera Financial Services, which is specialised in the field of financial intermediation in the UAE, the company said in a statement, without revealing the value of acquisition.
- Staff Report
- Published: 00:05 April 28, 2008
Dubai: Mawarid Finance has acquired Al Jazeera Financial Services, which is specialised in the field of financial intermediation in the UAE, the company said in a statement, without revealing the value of acquisition.
Al Jazeera was launched as a private equity company in Dubai in 2005 with a paid-up capital of Dh30 million. It has posted high profits ever since it began operations with a client base of more than 15,000.
As a financial intermediation affiliate of Mawarid Finance, Al Jazeera will continue with financial intermediation as its main activity.
The company's activities are concentrated in the Dubai Financial Market and Abu Dhabi Securities Market.
The acquisition of Al Jazeera Financial Services comes after Mawarid Finance became an establishing member in the association of leading investors who set up First Investment Bank in Bahrain.
Share this article
More from Banking
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Experts seek solutions to global gloom
Suggestions formulated in Dubai will feature in next year's WEF
-
Qatar benefits from diversification
Doha's readiness to look beyond hydrocarbons as a growth engine bodes well
-
When the Web lives worldwide
Cutting-edge firms are building massive data facilities all over the globe
