The Qatar Financial Centre Regulatory Authority has granted Corecap Merchant Bank  authorisation as a Category 3 firm to operate in and from the Qatar Financial Centre.

Corecap Merchant Bank, a subsidiary of Corecap Limited, will offer private equity, investment banking and asset management. It will commence its activities with Corecap Islamic Private Equity Fund I and with offering investment banking services. The firm is located at QFC Tower level 7.

This marks the firm’s first regional expansion after less than one year of operations and makes Corecap Merchant Bank among the first regulated entities in the region to offer private equity, a statement said.

The firm is capitalising on QFC’s international standards and first class regulatory infrastructure to offer a solid platform for its services in Qatar, the entire Mena region and other markets of choice.

The board of directors of Corecap Merchant Bank is chaired by Sheikh Mohamed Bin Ahmed Bin Jassem Al Thani, former Minister of Economy & Commerce in Qatar, with Khaled Hassan Rashed as CEO and board member and Omar Adel El Maghawry as managing director. – TradeArabia News Service