Middle East Economic Survey

VOL. LII

No 38

21-Sep-2009

Bahrain

First Energy Bank Details Al Dur IWPP Stake

Bahrain-based First Energy Bank (FEB), the worlds first Islamic investment bank focused on the energy sector, revealed on 17 September that it has acquired a 9% stake in the Al Dur independent water and power project (IWPP). With a total investment of $50mn, FEB becomes a significant shareholder. Frances GDF Suez and Kuwait-based Gulf Investment Corporation (GIC) reported several weeks ago...