Kuwait: First Islamic Investment Holding Company for Women Formed in Kuwait

The new investment company has certain unique goals. "It aims to activate the role of woman in the economic field. At the same time, it's concerned about the woman's role in the development process in the country. The company will help them take a leading and decision making role in the affairs of the country. The project should also impact the whole society," noted Haya Al-Sahli, Head of the Founding Committee.

Tejarati was formed with a view to establishing a group of developing companies. "The companies will be later established by Tejarati and will bring rewarding investment revenues for the shareholders. We will strive hard to achieve our capital profits and at the same time attain our strategic development goals," she added.

The founders of Tejarati envisioned to have a strong company with a paid-up capital of KD 30 million. The capital is divided into 300 million shares for a subscription value of 100 fils per share, with additional 5 fils as establishing charges. The minimum limit for investing is 100,000 shares.

We are concerned about the underwriting applications which will be much more than the capital, as we noticed a huge demand to subscribe to Tejarati shares even before the official announcement was made. In the future, we propose to expand the base by increasing the capital and establish new subsidiaries," Al-Sahli concluded.

The company does not mean to generate any gender discrimination by establishing a company for women or women employees. "Tejarati will be dealing with men and have strategic partners from men as well. Women constitute about 51 percent of the society. These women have special needs that weren't covered by the existing companies. This is the reason why we have come to the market," said Nabeela Al-Anjeri, the General Coordinator.

Tejarati will offer great opportunity for women to invest and work in a suitable environment. "Women will also have good chance to improve their skills, and invest in different fields such as education, health, and others. Tejarati is encouraging the women to take a leading role in the private sector as well. We will also have partners and will cooperate with international bodies such as the World Woman's Banking Union and many others," Al-Anjeri concluded.

17 June 2008

Source: Khaleej Times via WUNRN