ABOUT FIRST ENERGY BANK
First Energy Bank B.S.C.(c) (“FEB” or the “Bank”) is an Islamic investment bank licensed by the Central Bank of Bahrain (CBB) and headquartered in Manama, Kingdom of Bahrain.
FEB’s founders believe that the global energy sector and the Middle East and North Africa (MENA) region offer excellent opportunities for private equity and Islamic financial investment. First Energy Bank offers investors unique and specialized opportunities that capitalize on the MENA region’s status as the center for world energy.
The Bank focuses on investments in the production, transportation, storage and refining of hydrocarbons, as well as oilfield services and energy sector technologies. FEB also explores new opportunities to invest in the development of power generation capacity and renewable energy technologies.
FEB operates in accordance with Islamic Shari’a principles as a financial partner in project development, joint ventures, mergers and acquisitions and the purchase of assets and asset portfolios.
FEB was established in June 2008, with an authorized share capital of US$2 billion, and a paid up capital of US$1 billion consisting of 1 billion ordinary shares each with a par value of US$1. The Bank’s shareholders include a range of organizations and individuals with interests in the energy sector from the Kingdom of Bahrain, the United Arab Emirates, Libya, the Kingdom of Saudi Arabia, and other countries in the region.
First Energy Bank’s (FEB) business model is built around 5 core business lines: Private Equity, Structured / Islamic Financing, Investment Banking, Capital Markets / Asset Management and Treasury.
FEB activities include direct investments in private equity opportunities with a focus in the energy, infrastructure and healthcare sectors. The investment strategy is based on two pillars. The first is to identify and invest in regional entities and assets whereby FEB has a strong presence. FEB adds value through various activities including increased capitalization, financial and operational restructuring, and effective market expansion utilizing the Bank’s extensive network and expertise in these fields. The second pillar is to partner / co-invest with strong management and operational teams who have the ability to accelerate the growth and value of each investment. FEB capitalizes on its effective network and banking capabilities to maximize the value of each investment, supporting both continued business expansion and financial capacity.
STRUCTURED / ISLAMIC FINANCING
Islamic finance has been one of the fastest growing finance segments in recent years. It has proven to be a resilient and valued sector especially in the Middle East. FEB’s Islamic finance team focuses on underwriting, syndicating, structuring and providing financial advisory services, deriving many years of experience in this field and across the region. The team also focuses on providing “ring fenced” Shari’a compliant project and structured finance to selected strategic transactions where risks are mitigated by these structures and returns are maximized.
FEB utilizes its strength in identifying and developing investment and transaction opportunities drawing on all its available resources, aligning itself with strategic partners that it has access to across various industries. FEB’s unique strength in this field comes from its strong and diversified shareholder base combined with the management team’s experience in various industries, helping to support financing and Mergers and Acquisitions (M&A) transactions in the region. Beyond FEB’s financial strength, experience, and a strong balance sheet, our Investment Banking team provides a wide range of complementing products and services including financial advisory and structured finance.
CAPITAL MARKETS / ASSET MANAGEMENT
The Islamic capital market has been growing rapidly in the last decade through the increasing Shari’a compliant Sukuk, structured products and hedging instruments mainly by sovereigns, quasi-sovereigns, internationals, supra-nationals and corporate institutions. Investors’ demand for Shari’a compliant investment products has been increasing in recent years. FEB’s strategy is to provide innovative, diversified and well-managed products that suit its clients’ needs and meets their return requirements. FEB’s Capitals Markets and Asset Management team are committed to develop and execute long-term strategic and tactical plans to meet portfolio return objectives and continuously innovate and evaluate investing, yield enhancement and financing solutions.
The Islamic banking treasury sector has become increasingly competitive and sophisticated over the years, with demand being fueled by clients and investors expecting Islamic products, services and hedging tools comparable to the innovations provided by conventional banks. As such, FEB has laid a solid foundation to cater for the fast growing demand of Islamic innovations offering a wide range of Shari’a compliant products managed by a team of dedicated personnel to build a stable platform to cater for FEB’s clients and mandated business requirements.