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Saudi Arabia on the march

Al-Tawfeek Investments
Jeddah-based Al-Tawfeek Investments is dedicated to offer investors an extensive portfolio of high-performance Sharia-compliant products. It pursues research and development to devise new acceptable and profitable financial instruments. It contributes to the creation of a 'secondary market' and to spread our investment products throughout the world's financial markets. Tawfeek's role includes developing and cultivating mutually beneficial relationships with international financial institutions.
Al-Tawfeek is a subsidiary of Al Baraka Investment and Development Company (ABID), a member of Dallah Albaraka Group. Based in Jeddah, the Group is an industrial, commercial, banking and financial conglomerate founded in 1969 by Sheikh Saleh Abdullah Kamel. Dr Saleh J Malaika, CEO of Dallah Albarakah, is an able corporate leader who has just devised a new real estate investment fund.
The Group, which actually is composed of 305 companies, out of which 260 companies are based outside Saudi Arabia. The group includes 24 banks and financial institutions which operate in more than 40 countries with total assets of over US$9 billion. The financial strength and capability of Al-Tawfeek is ensured by the full endorsement of the parent Dallah Albaraka Group.
Al-Tawfeek's investment policy and product development are guided by the Sharia and as the Mudharib (Fund Manager), it shares profits equitably with investors. 
Since its establishment in 1992, Al-Tawfeek's strategy is to devise means to earn high returns and capital gains on its investments. Al-Tawfeek continuously conducts research and development into new financial instruments capable of competing in the global financial markets. Al-Tawfeek's Sharia Board reviews all new products and monitors Sharia compliance during the investment and operational processes. Al-Tawfeek supplies bridge financing for sound investment opportunities globally. The company has developed a diverse portfolio of well balanced funds covering:
Venture Capital 
Real Estate 
Private Equity Investments 
Listed Equity of various entities 
Financial Instruments 
Commercial and private financing through Islamic modes of finance: 
Murabaha n Bia Salam
Istisnaa n Leasing (Ijara)

Al-Tawfeek specializes in medium to long-term financing of venture capital industries and infrastructure projects, plus equity participations in listed and unlisted businesses in diverse economic sectors ranging from heavy industry, manufacturing, commercial and retail sectors, as well as real estate development. Al Tawfeek provides corporate syndication, underwriting, issue agent, and placement services. This is in addition to asset management and investment banking services provided to institutions and individual investors. Al-Tawfeek's open and close ended funds and private placements are designed to fit the needs of various market sectors.

Injaz offers Western Union Money Transfer service

Jeddah: The world is moving at a swift pace. In a consumerist-era speed and reliability are the buzzwords. In the domain of international money transfer, the Injaz Money Exchange Company, Jeddah, Saudi Arabia, has become a symbol for reliability and fast service.
Considering the high volume of remittances from Saudi Arabia the Injaz Co. swung into action to serve the 1.4 million Indian expats in the Kingdom, besides other nationalities, whose usual mode of money transfer was either done though demand drafts or through hawala, by introducing the reliable Western Union Money Transfer service in the Kingdom. Demand Drafts may be relatively less expensive but the time-consuming factor where in this era every minute counts, may soon have to be done away with. Hawala is likely to wane off automatically as the Govt of Saudi Arabia is bringing out a legislation to combat money laundering of which hawala is a part. In this scenario Western Union Money Transfer comes as a godsend. 
"Western Union is fast catching up as more and more people are now using the service to transfer money as the service is fast, reliable and convenient", says the enterprising chairman and CEO of Injaz Dr Yusuf A Nimatallah. What is the procedure? Mr Badruddin Panambur, a senior manager, explains, " The sender has to visit any of our branches and give cash and the receiver in India who is supplied with an identification No. can pick up his money just within minutes after it is sent in any post office or Western Union agents scattered all over India". Badruddin further adds, "No bank accounts are required at either side and we charge a fixed fee of SR 35 for any amount". And what if the sender wants his money to go directly into his account in India? Badruddin offers the solution, "We also do that, in just within 72 hours the money will be deposited in one's account and the fee we charge is nominal SR 15 for any amount".
INJAZ is a big name in Saudi Arabia in the field of money exchange. It is managed by a professional team headed by Dr Yusuf A Nimatullah, whose qualifications, experience and credentials make him one of the experts in the field. Dr Yusuf started his career as an economics lecturer in Massachusetts University (USA) in 1965. As Governor of Central Bank of Oman for 5 years he brought about new changes and dynamism into the financing and banking system. He later rose to the rank of a deputy Finance Minister of Saudi Arabia . Injaz under his patronage is moving ahead in full steam and thus is a leading name in money exchange services.

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