Capinnova Invests US$20 Million in Kuwaiti Based EBLA Computer Consultancy

20 Apr, 2010

Capinnova Investment Bank, the Shari’a compliant investment banking arm of BBK (Bank of Bahrain and Kuwait), announced 2 days ago a minority investment of $20 million in EBLA Computer Consultancy.

EBLA was established in Kuwait in 1993, and currently has subsidiaries in Qatar, UAE, Saudi Arabia, and Egypt and branch offices in Syria, Jordan and Bahrain. the company develops custom enterprise software and resells software for Microsoft, FileNet in the areas of enterprise collaboration, Enterprise CMS, System management.

Jamal Hijres, CEO of Capinnova stated in a press release that this is investment is one of the largest technology investments in the GCC in this year for his company.

EBLA plans to use the equity injection to grow both organically through geographic expansion and offering its clients additional product and services as well as through strategic acquisitions.

Capinnova has an authorized capital of US$500 million and paid-up capital of US$125 million. The Bank’s core areas of business include private equity, asset management and corporate finance and develops Shari’a compliant investment products and services for financial institutions, companies & establishments, high-net-worth-individuals and family businesses, regionally and globally.

Congratulation EBLA,  I hope you do not require GCC governments to use the dying IE 6.0.

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