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Capinnova exits investment

MANAMA: Capinnova Investment Bank, the Sharia-compliant investment banking arm of BBK, yesterday announced it has exited its investment in Oasis Mall, having earned 37 per cent total return on invested capital.

Oasis Mall is the largest retail mall in Muharraq and in June 2009 was the bank's debut transaction in the retail sector. The development was worth $18.6 million.

"This was the first deal for Capinnova after its inception and is compatible with the strategic focus of the bank," Capinnova chief executive Jamal Hijres said, expressing pleasure that the bank had contributed towards the completion of the project. Capinnova has an authorised capital of $500m and a paid-up capital of $151.5m.



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