Haya Rashed Al Khalifa advises on the launch of Bank Al Khair

October - 2011

Haya Rashed Al Khalifa advises on the launch of Bank Al Khair

Haya Rashed Al Khalifa advised Unicorn Investment Bank, an Islamic investment bank licensed by the Central Bank of Bahrain, in the launch of their new brand identity. The Bank has now officially changed its name to Bank Alkhair B.S.C. (c).The Bank's subsidiaries in Saudi Arabia, Malaysia and Turkey are now officially operating under the names Alkhair Capital Saudi Arabia, Alkhair International Islamic Bank Malaysia and Alkhair Capital Turkey respectively.  The name "Alkhair" was chosen to reflect the Bank's broad geographical reach across the world's major Islamic banking markets, while at the same time emphasizing its roots in the Arab world. "Alkhair" has positive connotations and is indicative of the Bank's vision of providing market-leading Islamic solutions to individuals and institutions seeking access to Shari'ah-compliant investment products and services.In August, Bank Alkhair announced its net results for the first half of 2011, reporting a net profit of approximately $3.1m for the period. Bank Alkhair's return to profitability follows the major restructuring initiative undertaken by the Bank in the latter half of 2010 and the first half of 2011 as advised by Haya Rashed Al Khalifa.This transaction illustrated the absolute confidence that major financial institution clients have on Haya Rashed Al Khalifa’s expertise in all Banking and Finance matters.  Partner Ronald Langat assisted by Legal Counsel Saad Al Doseri advised on this transaction.