Unicorn Capital sponsors Islamic finance conference in Istanbul
Istanbul, Monday 26 May 2008: Unicorn Capital Menkul Değerler A.Ş. (Unicorn Capital Turkey) announces its sponsorship of the Leaders in Islamic Finance conference which opens in Istanbul on Tuesday. The conference will bring together business leaders, government officials and distinguished scholars from around the world to discuss the opportunities and challenges as well as the regulatory issues shaping the global Islamic finance industry today. Unicorn Capital is a lead sponsor of the conference.
Najib Fayyad, Chairman of Unicorn Capital Turkey, commented: “Islamic finance has rapidly emerged as one of the most dynamic segments of the global financial services industry and is today a global phenomenon. There are Islamic finance institutions operating in over 75 countries and with assets estimated at around US$700 billion, a figure which is growing at a rate of about 15% a year. This conference is therefore both timely and important and provides a valuable forum for industry practitioners and experts form around the world to exchange ideas.”
Unicorn Capital Turkey is a subsidiary of Bahrain-based Unicorn Investment Bank (Unicorn), an Islamic investment bank with an international presence in the Middle East, the United States, Malaysia and Turkey. The company was established following Unicorn’s acquisition of Inter Yatirim Menkul Değerler A.Ş. in January 2007. Unicorn Capital Turkey offers a broad range of investment banking products and services catering both to Turkish investors and investors from the Gulf region seeking exposure to Turkey. The company’s business lines include Corporate Finance, Asset Management (through its subsidiary Unicorn Portföy), Domestic Capital Markets, International Sales and Research.
Unicorn Capital Turkey also recently re-launched the Istanbul Fund, an open-ended fund investing in a diversified portfolio of stocks listed on the Istanbul Stock Exchange (ISE), where the company has identified over 106 stocks that currently meet the fund’s investment criteria. The Istanbul Fund also invests in global Islamic bonds. The fund’s investment objective is to provide investors with long-term growth through exposure to attractive Turkish equities with a balanced risk/return profile.
Commenting on Unicorn’s decision to invest in Turkey and establish a strategic presence in the country, Fayyad said: “We are excited about Turkey and the opportunities that the market presents both to Unicorn and to our clients. Turkey is a dynamic and strong growth market that offers a wide range of promising investment opportunities, and Unicorn is well placed to maximize these opportunities by leveraging the local knowledge and expertise of our team in Turkey as well as Unicorn’s global structuring and placement capabilities. We are committed to being a leading provider of innovative, competitive and well-structured investment banking products and services and an active participant in the Turkish market.”