Unicorn Investment Bank

Unicorn Capital Dubai upgrades operating license

Bahrain and Dubai, 13 May 2008: Unicorn Capital Limited Dubai (Unicorn Capital Dubai), a subsidiary of Bahrain-based Unicorn Investment Bank, announces the successful upgrade of its Dubai Financial Services Authority (DFSA) license from Category 3 to Category 2. The new license enables Unicorn Capital Dubai to act as Principal in connection with investments and to become Unicorn Investment Bank’s Direct Investment arm.

Unicorn Capital Dubai is also the Fund Manager of the Strategic Acquisition Fund, a closed-end fund that seeks to mobilize capital to seize M&A opportunities arising from the current fragmented nature of the Islamic financial services industry. The Fund will acquire strategic stakes in and manage commercial banks both regionally and internationally, with the goal of building a large and globally recognized international Islamic financial services group, while providing investors with access to new markets and distribution channels as well as attractive returns.

Commenting on the license upgrade, Falah Nasser Al-Falah, CEO and Managing Director of Unicorn Capital Dubai, said: “We are delighted at the upgrade of our DFSA license which will allow Unicorn Capital Dubai to play a key role as Unicorn Investment Bank’s Direct Investment division while continuing to source, distribute and manage investments on behalf of the Bank.”