(MENAFN- The Peninsula) The Peninsula
DOHA: Qatar First Bank, the first independent Sharia-compliant bank authoriSed by the QFC Regulatory Authority (QFCRA) and a listed entity in the Qatar Stock Exchange, has announced the successful exit along with its investors through the sale of two Boeing 737-900ER aircrafts. This comes in line with the bank strategy and directive of offering international co-investment opportunities to its clients and to the Qatari market.
The two aircrafts were on a 7-year long-term sharia-compliant lease contract to Indonesia's Lion Air. Interestingly, this is the first deal of its kind that the bank is undertaking in the field of aviation through the global investment management platform that the bank launched and attracts increased opportunities for its clients and investors. Noteworthy this investment product has achieved for its holders a cash dividend of 9 percent annually, whereby the profits are distributed every three months, while the internal return on investment of the product is about 12 percent.
Commenting on the success of the exit deals, Ayman Zaidan, QFB's deputy CEO, said: 'We are very pleased to announce the successful exit of these deals further strengthening the bank's Investment offerings to its clients and solidifying the bank's strategy and risk-sharing operating model. The bank will continue to build on this success through offering innovative financial solutions and sharia-compliant investments to the Qatari market
With the increasing success of investment in structured products, QFB is looking for innovative investment opportunities. The products of the bank meet with great acceptance from potential investors as it provides investment opportunities in business sectors characterized by relative stability, as they provide attractive and expected returns in the medium and long term, and with a proportionate annual profit rate paid to clients on a quarterly basis.
Earlier, the bank announced it had successfully completed the $117m off-market acquisition of 90 North office campus located in Bellevue, Washington. This acquisition is QFB's 6th product offerings and 4th in the US real estate market offering investors access to international investment opportunities through Investment Management Platform. It is also a strong testimony of QFB's key focus on its strategy of offering innovative financial solutions with greater returns to the bank's clients of high net worth Individuals, institutional investors and government related entities.
Additionally, the product offers an investment in a stable mature market. This investment provides clients with ten years of strong, credit-backed contractual cash flows with minimal capital obligations and a best-in-class asset in a market characterized by large, market-leading companies such as Microsoft, T-Mobile, Nintendo, REI, Amazon, Google, Facebook, Oculus, Costco, AT & T, and Boeing.
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