al khaliji

Kuwait Financial Centre S.A.K. "Markaz", one of the leading investment banking and asset management companies in the Middle East, and al khaliji, a regional bank headquartered in Qatar, announced today the signing of a distribution agreement. al khaliji will act as a Selling Agent of Markaz funds through its network of branches and subsidiaries in the State of Qatar as well as across the GCC as the bank expands regionally.

Mr. Manaf Alhajeri, General Manager of Markaz said, "We value our partnership with al khaliji which is symbiotic and mutually beneficial. al khaliji is offering their client base the opportunity to benefit from investing in award-winning, innovative investment products, while Markaz can now more easily tap into new marketing channels in order to serve a much wider and more diverse segment of investors."

Mr. David Proctor, Chief Executive Officer of al khaliji said "This is another example of how swiftly a next generation bank can respond to changing market conditions. Investors are worried about the potential impact of the US and European economic crisis and are looking for alternative places to invest their funds. Markaz has profound regional investment expertise and al khaliji is delighted to offer the Markaz range of investment funds to our customers. We look forward to building a long term relationship together."

Alhajeri added "Regional coalitions amongst seasoned and newly established financial institutions in the GCC lend a hand in overcoming current challenges faced by GCC Markets and drive the asset management industry to new levels."

Alhajeri added "The GCC region is in need of stronger coordinated efforts that are employed towards offering world-class wealth management services, and in promoting the role of institutional investors in order to meet demand resulting from accelerating growth in governments', institutions', and individuals' riches."

"Well managed savings tools have a tremendous growth potential in the Qatari Market, due to record surpluses, and high GDP per capita. Markaz can meet this demand with innovative products and a solid track record of consistent outperformance that spans more than three decades."

Alhajeri concluded "We look forward to having a long-term and fruitful partnership with al khaliji and will be offering a wider range of investment funds and products in the near future."

Markaz also established a branch in 2006 in Qatar Financial Centre to provide its advisory services to institutional & business customers in Qatar.

The agreement will commence its activities with the marketing of Markaz Gulf Fund. The fund invests in companies listed in GCC and MENA stock exchanges.