Corecap Limited, a leading alternative investment firm with operations in Dubai and Qatar, has launched Corecap Islamic Merchant Banking.

It was launched at the company’s second annual private investor forum at the Burj Al Arab, Dubai.

The forum was attended by Corecap’s prominent key investors, industry leaders and decision makers in the MENA region, led by UAE Minister of Economy Sultan bin Saeed Al Mansouri.

“The one thing that is really important for this region to move on and develop itself in the proper way is if the economic agenda takes the lead over the political agenda.  The UAE government has taken a stand on how they will address the crisis through guidelines put by the prime minister, vice-president and ruler of Dubai Shaikh Mohammed bin Rashid Al Maktoum, in creating a committee to address the issue of the current world situation in relation to its effect on the UAE,” said Al Mansouri.

Corecap Limited is an alternative investment firm with operations in Dubai and Qatar focusing on the Middle East and Asia.

“Over the past two years, Corecap has built a platform that positions it ahead of the curve. We are further strengthened by the UAE’s support to entrepreneurship represented in UAE Minister of Economy being with us today to endorse our vision,” said co-chairman Mohamed Mahmoud Nosseir.

“Today, we are proud to stand before all our stakeholders at our second annual investor forum and affirm our commitment to growth amidst the toughest times the region has undergone. With over leveraging derivatives and using money as a commodity for a price named interest, the world’s financial systems have proven that Sharia’a investment principles should not be crossed,” said CEO, Corecap, Khaled Hassan Rashed. – TradeArabia News Service