Latest news with #AliH.Khalil
Al Bawaba
23-02-2025
- Business
- Al Bawaba
Markaz records Total Revenue of KD 20.31 million for 2024
Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for 2024 with a Total Revenue of KD 20.31 million with a decrease of 23%, as compared to KD 26.32 million in 2023. The net profit attributable to shareholders of Markaz was KD 4.46 million, compared to KD 4.15 million in the same period last year, and earnings per share was 9 Fils for the year ended 31 December 2024. The Board of Directors has recommended a dividend of 7 fils per share (Subject to the AGM approval). Mr. Diraar Yusuf Alghanim, Chairman at Markaz stated: In 2024, GCC economies showed resilience, with the MSCI GCC Countries Domestic Index up 5.9%. Kuwait outperformed with the All Share Index rising 8.0% and the Main 50 Index soaring 24%, driven by strong investor interest in mid-cap and small-cap stocks. Oil prices contributed to regional fiscal stability, while governments policies and investments have focused on economic diversification. The GCC average projected real GDP growth for 2024 is 1.4%, driven by economic diversification and infrastructure investments. The global economic environment in 2024 presented a blend of opportunities and challenges. Global GDP growth is projected at 3.2%, bolstered by easing inflation in developed economies. Emerging markets benefited from gradual improvements in supply chains and labor markets. However, geopolitical uncertainties and tariff-driven measures pose significant risks to sustained growth. Looking ahead, we are optimistic about the region's prospects and our capacity to capitalize on growth opportunities and deliver enduring value for our stakeholders.' Mr. Ali H. Khalil, Markaz's CEO, stated: 'Markaz's Asset Management fees for 2024 were KD 8.73 million as compared to KD 7.17 million for the previous year. Investment Banking and Advisory fees for 2024 were KD 1.08 million as compared to KD 0.84 million for 2023, an increase of 29%. The year 2024 held special significance as we celebrated our 50th anniversary, a testament to decades of sustained growth through innovation and trust. Understanding that our clients' success is tied to our own, we prioritize enhancing the client experience to reinforce our market leadership. Our equities team capitalized on these opportunities across multiple funds and portfolios; our equity mutual funds MIDAF and Forsa Funds outperformed the benchmarks. Markaz's real estate investments in the GCC region are characterized by operational efficiency, leading to optimal rental rates, high occupancy and collection ratios. These factors have significantly contributed to the income and returns of the Markaz Real Estate Fund (MREF) and the Markaz Gulf Real Estate Fund (MGREF), a private placement fund. Our international real estate portfolio has performed well despite expanding capitalization rates and higher-than-expected interest rates. We have successfully sold projects in Europe and the United States. Markaz is now focusing on high-potential opportunities under the current market conditions, including leveraged senior debt in multifamily and industrial development projects in the U.S. and Europe. The investment banking team demonstrated its innovative capabilities by successfully executing a KD 100 million bond program for the Commercial Bank of Kuwait and introducing the region's first KD-denominated convertible bond. Advisory services, including M&A, restructuring strategies, and feasibility studies, addressed complex financial structures for corporations and family-owned businesses. By focusing on creating long-term value, we aim to align our strategies with market dynamics and client needs, providing consistent growth and meaningful outcomes.' Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz Assets Under Management (AUM) increased by 16 % to reach KD 1.41 billion as of December 31, 2024. Despite market complexities, our strategic role as investment advisors enabled us to seize market opportunities effectively, as exemplified in our continued ventures into Private Equity, Private Credit, and Local Fixed Income in secondary markets. We strengthened relationships with leading local and regional institutions while expanding our client base. All these efforts led to Markaz being recognized by reputable organizations including Global Finance, EMEA finance, Euromoney, and MENA Banking Excellence, and winning (9) prestigious awards in asset management, investment banking, real estate, digital solutions, and innovation. Our goal is to provide our clients with the best innovative investment solutions that achieve their financial objectives, and we are committed to delivering high-end value.'
Zawya
22-02-2025
- Business
- Zawya
Markaz records total revenue of KD 20.31mln for 2024
Kuwait - Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for 2024 with a Total Revenue of KD 20.31 million with a decrease of 23%, as compared to KD 26.32 million in 2023. The net profit attributable to shareholders of Markaz was KD 4.46 million, compared to KD 4.15 million in the same period last year, and earnings per share was 9 Fils for the year ended 31 December 2024. The Board of Directors has recommended a dividend of 7 fils per share (Subject to the AGM approval). Mr. Diraar Yusuf Alghanim, Chairman at Markaz stated: In 2024, GCC economies showed resilience, with the MSCI GCC Countries Domestic Index up 5.9%. Kuwait outperformed with the All Share Index rising 8.0% and the Main 50 Index soaring 24%, driven by strong investor interest in mid-cap and small-cap stocks. Oil prices contributed to regional fiscal stability, while governments policies and investments have focused on economic diversification. The GCC average projected real GDP growth for 2024 is 1.4%, driven by economic diversification and infrastructure investments. The global economic environment in 2024 presented a blend of opportunities and challenges. Global GDP growth is projected at 3.2%, bolstered by easing inflation in developed economies. Emerging markets benefited from gradual improvements in supply chains and labor markets. However, geopolitical uncertainties and tariff-driven measures pose significant risks to sustained growth. Looking ahead, we are optimistic about the region's prospects and our capacity to capitalize on growth opportunities and deliver enduring value for our stakeholders.' Mr. Ali H. Khalil, Markaz's CEO, stated: 'Markaz's Asset Management fees for 2024 were KD 8.73 million as compared to KD 7.17 million for the previous year. Investment Banking and Advisory fees for 2024 were KD 1.08 million as compared to KD 0.84 million for 2023, an increase of 29%. The year 2024 held special significance as we celebrated our 50th anniversary, a testament to decades of sustained growth through innovation and trust. Understanding that our clients' success is tied to our own, we prioritize enhancing the client experience to reinforce our market leadership. Our equities team capitalized on these opportunities across multiple funds and portfolios; our equity mutual funds MIDAF and Forsa Funds outperformed the benchmarks. Markaz's real estate investments in the GCC region are characterized by operational efficiency, leading to optimal rental rates, high occupancy and collection ratios. These factors have significantly contributed to the income and returns of the Markaz Real Estate Fund (MREF) and the Markaz Gulf Real Estate Fund (MGREF), a private placement fund. Our international real estate portfolio has performed well despite expanding capitalization rates and higher-than-expected interest rates. We have successfully sold projects in Europe and the United States. Markaz is now focusing on high-potential opportunities under the current market conditions, including leveraged senior debt in multifamily and industrial development projects in the U.S. and Europe. The investment banking team demonstrated its innovative capabilities by successfully executing a KD 100 million bond program for the Commercial Bank of Kuwait and introducing the region's first KD-denominated convertible bond. Advisory services, including M&A, restructuring strategies, and feasibility studies, addressed complex financial structures for corporations and family-owned businesses. By focusing on creating long-term value, we aim to align our strategies with market dynamics and client needs, providing consistent growth and meaningful outcomes.' Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz Assets Under Management (AUM) increased by 16 % to reach KD 1.41 billion as of December 31, 2024. Despite market complexities, our strategic role as investment advisors enabled us to seize market opportunities effectively, as exemplified in our continued ventures into Private Equity, Private Credit, and Local Fixed Income in secondary markets. We strengthened relationships with leading local and regional institutions while expanding our client base. All these efforts led to Markaz being recognized by reputable organizations including Global Finance, EMEA finance, Euromoney, and MENA Banking Excellence, and winning (9) prestigious awards in asset management, investment banking, real estate, digital solutions, and innovation. Our goal is to provide our clients with the best innovative investment solutions that achieve their financial objectives, and we are committed to delivering high-end value.' About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.41 billion (USD 4.57 billion) as of 31 December 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz. For further information, please contact: Sondos Saad Corporate Communications Department Kuwait Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
Zawya
09-02-2025
- Business
- Zawya
A strategic partnership between Markaz and Loyac to nurture and develop young talents
Kuwait: Reaffirming its active role in promoting corporate social responsibility, Kuwait Financial Centre "Markaz" concludes 23 years of fruitful and ongoing partnership with Loyac, a local non-profit organization focused on youth development in Kuwait and other Arab countries. The partnership stems from Markaz's efforts to help enable the youth and nurture a new generation of leaders in alignment with the 'building human capacity' pillar of its corporate social responsibility (CSR) strategy. The annual partnership between Markaz and Loyac encompasses various key aspects of social and developmental programs with the aim to enhance the capabilities of the youth, both personally and professionally, helping ensure that they are equipped with the skills and knowledge necessary to thrive and contribute effectively in the job market. Through Markaz's support, the Loyac team managed and completed over 60 initiatives within the year 2024. Commenting on Markaz's pivotal role in this long-standing partnership, Mr. Diraar Y. Alghanim, Chairman at Markaz, said: 'Markaz has continuously sought out key initiatives that are mission-driven and sustainable, and more importantly, reflect the values and beliefs of Markaz. Our continued support of Loyac, and the myriad of initiatives that we find imperative to the development of the youth and community stems from our shared belief in building human capacity and empowering the next generation of young leaders. We are proud to contribute to this mission through a variety of initiatives focused on community, education, culture, sports and entrepreneurship, and witnessing the impact it leaves behind.' Commenting on Markaz's approach to community engagement, Mr. Ali H. Khalil, Chief Executive Officer at Markaz, stated: 'Our collaboration with Loyac represents a cornerstone of our vision to cultivate a society where youth are not only equipped with the necessary skills but empowered to redefine possibilities through a business-oriented mindset fostered during their participation in Loyac's programs. This partnership allows us to champion initiatives that nurture creativity, leadership, and resilience, ensuring that the next generation is ready to face the challenges of tomorrow, with a mindset that embraces confidence and purpose. It is through such endeavors that we reaffirm our commitment to building a legacy of impact and innovation.' Building on this shared commitment, Mr. Abdullatif Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, added: 'Our commitment to being a partner in wealth creation extends to empowering future generations and promoting a culture of responsibility and innovation. Our partnership with Loyac showcases the profound impact of community-driven initiatives that inspire and equip youth to become agents of change. By supporting Loyac's impactful programs and actively contributing to the community, we aim to cultivate an environment where talent and purpose align to advance long-term societal development.' Ms. Fareah Al Saqqaf, Chairman at Loyac, said: "We take great pride in our long-standing partnership with Markaz, which began at the inception stage and reflects our shared vision through Loyac's journey. This partnership has been translated into several impactful programs that directly contribute to creating sustainable value for the youth within communities. Markaz plays a fundamental and pivotal role in empowering youth and the community through Loyac Kuwait and its branches." Community Empowerment Initiatives Markaz's partnership with Loyac in a diverse series of initiatives has significantly contributed to creating a positive social impact. Through programs such as the Winter Aid Distribution Initiative, Green Volunteering, Homes Program, Neqsat Ramadan, Service Is My Joy Program, and the LOYAC X NAEMATI community service initiatives, among others, Markaz has supported underprivileged communities, promoted environmental awareness, and fostered inclusive engagement for individuals with diverse needs. Professional Empowerment Programs On a professional level, Markaz supports various key initiatives by Loyac, one of which is the Al Jawhar Program, organized by Loyac Academy of Performing Arts (LAPA). The annual program aims to supply Kuwait youth with the tools needed to become successful media representatives and manage fruitful dialogues. The program also celebrates iconic media personalities that have contributed to the formation of Arab culture at large to build stronger cultural bridges that connect generations. Several Markaz team members were part of the different seasons of the program. The Jawhar Podcast program was also launched as a professional platform to support in transitioning passionate young media enthusiasts from training to professional practice. This initiative helps empower them in the job market and provides them with an exceptional opportunity to reach audiences, marking a true launch of their careers in the media industry. Additionally, Markaz collaborated through LAPA with the TV media presenter, Ms. Rania Barghout, to conduct a series of training carefully crafted for Markaz staff members, to develop their public communication and speech delivery skills. The intensive training included several key areas, such as the fundamentals of public speaking with a focus on using body language intelligently to enhance the message, breathing and relaxation techniques to manage nerves, crafting speech content tailored to the specific audience and their needs, skills for both prepared and impromptu speaking, overcoming the fear of public speaking, handling media interactions, managing questions, and effectively communicating during crises. Over 30 staff members from Markaz have successfully completed the training course. Life Skills Empowerment Programs & Workshops The two entities collaborated on several initiatives to develop life and personal skills, including workshops such as the 7 Habits for Highly Effective People and Teens Workshops, the Young Leaders Program (UK), the Kon Social Entrepreneurship Program, and the Photography Workshop have provided participants with tools to enhance communication, leadership, and critical thinking. By engaging in these programs, Markaz's employees and their families have embraced opportunities for self-improvement and active contribution to a culture of resilience, creativity, and community empowerment, reinforcing Markaz's commitment to sustainable development. Health and Physical Empowerment Markaz is a leading supporter of the Loyac AC Milan Soccer School, which aims to continue introducing world-class and innovative coaching practices within Kuwait, helping the youth within the nation to fine-tune their abilities and compete at a high standard. Markaz continues its more than 15 years of endorsement of the activities of the academy, which has led to the training of more than 780 young players who have developed their skills on the field, learning from international experts, and providing a nurturing structure for youth and children in Kuwait to train and compete in both local and international tournaments, and unleashing their potential. Corporate Social Responsibility Markaz places sustainability at the heart of its vision, mission, and values, embodying its unwavering commitment to ethical practices, fairness, and responsible action. Through a comprehensive corporate social and economic responsibility strategy, Markaz actively contributes to community development and the advancement of a resilient and sustainable economy in Kuwait. This approach reflects Markaz's sense of responsibility toward society and the national economy, addressing social, economic, and environmental challenges with innovative, forward-thinking solutions. -Ends- About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.39 billion (USD 4.56 billion) as of 30 September 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and help Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), and Forsa Financial Fund (the first options market maker in the GCC since 2005), all conceptualized, established, and managed by Markaz. For further information, please contact: Sondos Saad Corporate Communications Department Kuwait Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
Al Bawaba
09-02-2025
- Business
- Al Bawaba
A strategic partnership between Markaz and Loyac to nurture and develop young talents
Reaffirming its active role in promoting corporate social responsibility, Kuwait Financial Centre "Markaz" concludes 23 years of fruitful and ongoing partnership with Loyac, a local non-profit organization focused on youth development in Kuwait and other Arab countries. The partnership stems from Markaz's efforts to help enable the youth and nurture a new generation of leaders in alignment with the 'building human capacity' pillar of its corporate social responsibility (CSR) annual partnership between Markaz and Loyac encompasses various key aspects of social and developmental programs with the aim to enhance the capabilities of the youth, both personally and professionally, helping ensure that they are equipped with the skills and knowledge necessary to thrive and contribute effectively in the job market. Through Markaz's support, the Loyac team managed and completed over 60 initiatives within the year 2024. Commenting on Markaz's pivotal role in this long-standing partnership, Mr. Diraar Y. Alghanim, Chairman at Markaz, said: 'Markaz has continuously sought out key initiatives that are mission-driven and sustainable, and more importantly, reflect the values and beliefs of Markaz. Our continued support of Loyac, and the myriad of initiatives that we find imperative to the development of the youth and community stems from our shared belief in building human capacity and empowering the next generation of young leaders. We are proud to contribute to this mission through a variety of initiatives focused on community, education, culture, sports and entrepreneurship, and witnessing the impact it leaves behind.'Commenting on Markaz's approach to community engagement, Mr. Ali H. Khalil, Chief Executive Officer at Markaz, stated: 'Our collaboration with Loyac represents a cornerstone of our vision to cultivate a society where youth are not only equipped with the necessary skills but empowered to redefine possibilities through a business-oriented mindset fostered during their participation in Loyac's programs. This partnership allows us to champion initiatives that nurture creativity, leadership, and resilience, ensuring that the next generation is ready to face the challenges of tomorrow, with a mindset that embraces confidence and purpose. It is through such endeavors that we reaffirm our commitment to building a legacy of impact and innovation.'Building on this shared commitment, Mr. Abdullatif Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, added: 'Our commitment to being a partner in wealth creation extends to empowering future generations and promoting a culture of responsibility and innovation. Our partnership with Loyac showcases the profound impact of community-driven initiatives that inspire and equip youth to become agents of change. By supporting Loyac's impactful programs and actively contributing to the community, we aim to cultivate an environment where talent and purpose align to advance long-term societal development.'Ms. Fareah Al Saqqaf, Chairman at Loyac, said: "We take great pride in our long-standing partnership with Markaz, which began at the inception stage and reflects our shared vision through Loyac's journey. This partnership has been translated into several impactful programs that directly contribute to creating sustainable value for the youth within communities. Markaz plays a fundamental and pivotal role in empowering youth and the community through Loyac Kuwait and its branches."Community Empowerment InitiativesMarkaz's partnership with Loyac in a diverse series of initiatives has significantly contributed to creating a positive social impact. Through programs such as the Winter Aid Distribution Initiative, Green Volunteering, Homes Program, Neqsat Ramadan, Service Is My Joy Program, and the LOYAC X NAEMATI community service initiatives, among others, Markaz has supported underprivileged communities, promoted environmental awareness, and fostered inclusive engagement for individuals with diverse needs. Professional Empowerment ProgramsOn a professional level, Markaz supports various key initiatives by Loyac, one of which is the Al Jawhar Program, organized by Loyac Academy of Performing Arts (LAPA). The annual program aims to supply Kuwait youth with the tools needed to become successful media representatives and manage fruitful dialogues. The program also celebrates iconic media personalities that have contributed to the formation of Arab culture at large to build stronger cultural bridges that connect generations. Several Markaz team members were part of the different seasons of the program. The Jawhar Podcast program was also launched as a professional platform to support in transitioning passionate young media enthusiasts from training to professional practice. This initiative helps empower them in the job market and provides them with an exceptional opportunity to reach audiences, marking a true launch of their careers in the media Markaz collaborated through LAPA with the TV media presenter, Ms. Rania Barghout, to conduct a series of training carefully crafted for Markaz staff members, to develop their public communication and speech delivery skills. The intensive training included several key areas, such as the fundamentals of public speaking with a focus on using body language intelligently to enhance the message, breathing and relaxation techniques to manage nerves, crafting speech content tailored to the specific audience and their needs, skills for both prepared and impromptu speaking, overcoming the fear of public speaking, handling media interactions, managing questions, and effectively communicating during crises. Over 30 staff members from Markaz have successfully completed the training course. Life Skills Empowerment Programs & WorkshopsThe two entities collaborated on several initiatives to develop life and personal skills, including workshops such as the 7 Habits for Highly Effective People and Teens Workshops, the Young Leaders Program (UK), the Kon Social Entrepreneurship Program, and the Photography Workshop have provided participants with tools to enhance communication, leadership, and critical thinking. By engaging in these programs, Markaz's employees and their families have embraced opportunities for self-improvement and active contribution to a culture of resilience, creativity, and community empowerment, reinforcing Markaz's commitment to sustainable and Physical EmpowermentMarkaz is a leading supporter of the Loyac AC Milan Soccer School, which aims to continue introducing world-class and innovative coaching practices within Kuwait, helping the youth within the nation to fine-tune their abilities and compete at a high standard. Markaz continues its more than 15 years of endorsement of the activities of the academy, which has led to the training of more than 780 young players who have developed their skills on the field, learning from international experts, and providing a nurturing structure for youth and children in Kuwait to train and compete in both local and international tournaments, and unleashing their Social ResponsibilityMarkaz places sustainability at the heart of its vision, mission, and values, embodying its unwavering commitment to ethical practices, fairness, and responsible action. Through a comprehensive corporate social and economic responsibility strategy, Markaz actively contributes to community development and the advancement of a resilient and sustainable economy in Kuwait. This approach reflects Markaz's sense of responsibility toward society and the national economy, addressing social, economic, and environmental challenges with innovative, forward-thinking solutions. © 2000 - 2025 Al Bawaba (
