First Global Investments (FGI), the newest player in the Islamic Banking & Finance industry in Sri Lanka, is implementing a vigorous campaign to attract more investments from Gulf Cooperation Countries (GCC).

First Global Investments Holdings Limited spokesman, Sahal Alavi told The Sunday Times FT that the GCC countries are looking for lucrative investment opportunities as oil incomes is sharply rising. He added that Sri Lanka should seize this opportunity in a big way and noted that First Global Investments, a boutique investment banking institution and a leading investor from Qatar has made a substantial investment in the form of share capital to the company recently.

Sheikh Jumah Khamis AL Shahwani of Qatar has stepped in as a strategic founding investor and to be absorbed as a Board Member of the First Global Investments Holdings Ltd. Mr Jumah is currently the owner and chairman of Bin Arbaid Group of companies. Founder and Managing Director of First Global Investments Holdings Ltd, Muhammad Ikram Thowfeek noted that, “This is a significant event when considering the dire need for foreign investments to our motherland, and what better way to pave the way for such investments is through an Islamic banking proposition.” He added that his institution has made several achievements since June this year with the company’s financial advisory services hitting off in a big way.

First Global won a consultancy bid for Abu Dhabi Commercial Bank- FGIH to drive the Bank’s into Islamic Banking “Meethaq” in the beginning of the 4th quarter of 2008 while First Global would also train the bank’s 600-strong workforce in the UAE. First Global Investments along with a leading Islamic Bank in Malaysia has also been appointed as co-lead arrangers to raise funding of US$60 million for a leading aviation client in Malaysia.
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