Dubai,UAE
Sallam Mohamed
MBF Group Holding allocates a capital of 50 million dollars with intention to generate a technical investment portfolio with aim to financially support new inventive ideas especially for such ones that expertise in the field of technologies. His Highness Sheikh Mohammed AlQasemi, the founder of MBF Group, in a press conference said “the portfolio is basically allocated to invest in areas of new concepts and creative domains, particularly the ones that interrelated with services, namely, health, social, technical and economic services”.
AlQasemi added that “we are now developing this portfolio and planning out the investment strategy, notwithstanding this investment portfolio is objectively being set out to mitigate risks or as widely understood to have a discipline of diversity assets”.
His Highness also revealed that a director shall be selected to manage the portfolio and this issue will be given much concern, especially the survival of this newly born portfolio is to dependently develop through a good management because in foreseeable future the same shall be upgraded into Dubai Market as pert to applicable rules
On the other hand, AlQasemi explained that the MBF will provide 10% of the portfolio capital, meanwhile, jointly ventures and cooperation will be coordinated with other local banks along with businessmen to finance remaining required value, revealing that currently the proposal is being introduced to businessmen and banks to join the project and the same have also been suggested to the government investment funds
AlQasemi mentioned that though this type of portfolio is the first of its kind in the UAE, but the local markets seek to adopt such type of investment projects locally, explaining that “this very market is vitally promotive, flourishing and remunerative “
Finally, in the press conference, AlQasemi noted that there are a lot of portfolios where capitals saved and invested in the domains of technologies, such like Karim & Instagram, assuring that the MBF Group Holdings has worldly known excellent efficient cadres who promptly respond to join the project
