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| The
International Banking Corporation (TIBC) was formed in late 2002
by the Ahmad Hamad Algosaibi & Brothers Company (The Algosaibi
Group) with an authorized and paid up capital of US$ 100 million,
which has since been increased to US$ 1 billion and US$ 600 million
respectively. Incorporated in the Kingdom of Bahrain as a Bahrain
Shareholding Company (closed), TIBC became operational during the
second quarter of 2003 and currently employs 50 people. |
| ACTIVITIES |
| TIBC
provides commercial loans and extends trade-related finance to customers.
Risk assets are primarily short term in nature, and relate to working
capital borrowing or trade activities. Trade finance for corporate
customers includes the issuing of import letters of credit and discounting
of trade acceptances drawn under L/Cs or under documentary collections.
TIBC trades in commodities and precious metals.
Portfolio investment activities include investments made for the propriety account of TIBC, investments made on behalf of the shareholders and investments managed for clients. TIBC invests directly in investment grade fixed income securities and to a lesser extent, in investment grade equities. Investments will include hedge funds and structured products with low volatility. Additionally, TIBC is developing wholesale Islamic products, including “sukuks” (asset backed investment structures), and certain other structures for Islamic financial institutions. |
| THE AHMAD HAMAD ALGOSAIBI GROUP |
TIBC’s
parent company, Ahmad Hamad Algosaibi & Brothers Company, (the
Algosaibi Group), is a General Partnership duly established under
the laws and regulations of the Kingdom of Saudi Arabia.
The Algosaibi Group was originally founded in the early 1940’s by Hamad Ahmad Algosaibi, the father of Ahmad, Abdulaziz and Sulaiman Algosaibi. The Algosaibi Group is highly diversified with activities encompassing financial services, Pepsi-Cola bottling and distribution, can manufacturing, real estate investment, hotels, shipping, contracting, pipe coating and other light industrial activities. The majority of the Algosaibi Group’s activities are confined to the Kingdom of Saudi Arabia but it has a sister company in the Kingdom of Bahrain from which it conducts investment business in the international markets. |
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Copyright
©
2010 The
International Banking Corporation BSC ©. All Rights Reserved
|