MANAMA, 20 June 2007 — With a paid-up capital of $20 million, Venture Capital Bank (VC Bank) and their partners in Kuwait — Real Estate Commercial Company, Al-Burooj Real Estate Investment, Al-Khaleeji Investment House and Ayaan Leasing and Investment — completed the procedures for the establishment of Mozon Investment Holding Company in the Kingdom of Morocco.
In a joint statement issued yesterday, Mozon Investment will concentrate its efforts and aptitude on a variety of investment activities in Morocco, including buying and selling and the establishment of companies in various economic sectors including industrial, service, real estate, finance and investment.
The company is currently engaged in performing detailed analyzes of several key projects in alliance with strategic partners in Morocco, in order to begin implementation and execution in the near future. The first board of directors for Mozon Investment was recently elected and held its inaugural meeting in Kuwait City. Board members comprise Abdulfatah Mohammed Rafei Marafei, chairman; Mohammed Saleh Al-Khinah, deputy chairman; Nuri Ahmed Al-Saad, secretary. Abdullatif Mohamed Janahi, Dr. Ahmed Al-Jawhary, Abdulaziz Ebrahim Moosa, Ahmed Abdullatif Al-Dosari, Bashar Al-Tuwaijri and Waleed Khalid Al-Jari are members.
The executive committee consists of Abdulfatah Mohammed Rafei Marafei, Nuri Ahmed Al Saad, Dr. Ahmed Al-Jawhary, and Abdulaziz Ebrahim Moosa.
Al-Jawhary said “the bank and its partners endeavor, through this partnership, to capture the many lucrative investment opportunities available to Arab and foreign investors in the Kingdom of Morocco, and avail of the progressive investment environment in the Kingdom, which has successfully attracted foreign investments.” Mozon Investment will ensure its active contribution to the national economy through concentration on beneficial projects.
which foster economic growth.
and provide infrastructure and investment establishment paradigms at par with international standards of employment, operations, and management.
Al-Jawhary added that “Mozon Investment Holding Company’s policies and economic direction are in direct correlation with those of Venture Capital Bank in terms of VC Bank’s focus on investing in new landmark projects, and other real estate investment opportunities, in addition to acquisitions, business development and providing investment advisory services in various MENA region countries. This is largely attributed to the bank’s firm belief in the importance of the role played by finance and investment firms in keeping projects that spur national economic growth across the Arab world, such as in the Kingdom of Morocco.”
Through its projects and activities in Morocco, Mozon Investment will provide several well-governed and thoroughly studied investment channels for a large GCC investor base — particularly for those who are on the verge of entering the promising markets and economic sectors in the Kingdom.
“Entering the Moroccan market with a unified strategy will undisputedly consolidate our strengths and enhance our opportunities for success,” Al-Jawhary noted.