Tabarak advises $100m Korean buy-out fund

BY HASEEB HAIDER [21 May 2006]

ABU DHABI — In line with the Gulf region's bid to foster closer business ties with South Korea, Dubai-based Tabarak International, a firm specialising in Shariáh structuring & advisory services, yesterday announced successfully providing advisory services to launch $100 million, the first Shariáh compliant country dedicated 'Pre-ipo & buyout fund', for the booming South Korean economy.

The Fund was fully subscribed for $100 million within days of launch with one Saudi Arabian institution exclusively taking a large allocation for Saudi Arabia, Bahrain & Qatar.

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Mid East Firm Sizing Up Investment

A newly formed firm in the United Arab Emirates is seeking investments for its Islamic clients. Dubai-based Tabarak International is working with 25 institutions and wealthy individuals that want to add asset backed securities to their portfolios, either directly or through funds that purchase such products. The firm, headed by Khuram Hussain, hopes to team up with European investment banks and fund managers to craft products that would appeal to such investors.

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This service extends to providing a guide on likely costs involved in launching a Shariáh compliant product, including the cost of structuring, procuring a Fatwa and placing an appropriate Shariáh Board on the product.