ABOUT FIRST ENERGY BANK
First Energy Bank B.S.C.(c) (“FEB” or the “Bank”) is licensed as Islamic Wholesale bank by the Central Bank of Bahrain (CBB) and headquartered in Manama, Kingdom of Bahrain. 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.
The Bank established a wholly-owned subsidiary, FEB Capital Ltd, in Dubai International Finance Centre (DIFC) to offer Advisory and Consultancy services. It also served to optimize the bank’s geographical footprint. FEB has also successfully launched its real estate infrastructure and development platform, FEB AQAR, to manage and capture opportunities within the real estate sectors. This will greatly enhance the Bank’s Shari’a compliant activities and capacities.
The Bank was established in June 2008, with an authorized share capital of US$2 billion, and a paid up capital of US$1 billion. On 6th December, 2018, the shareholders approved Capital Re-Organization whereby the Bank’s paid up capital was reduced from US$ 1 billion to US$ 600 million. The Bank’s shareholders include a range of organizations from the Kingdom of Bahrain, the United Arab Emirates, Libya, the Kingdom of Saudi Arabia, and other countries in the region.
The Bank due to a paradigm shift in the overall opportunities available in the Global oil and gas sector, which was the core operating sector of the Bank, has changed its strategic focus and intends to remain robust, pro-active and opportunistic in the market by sourcing potential opportunities in healthcare and defensive sectors, both regionally and globally. The Bank believes that such sectors have huge demand and massive opportunities available to capitalize and generate adequate returns for the shareholders.
On the Bank’s existing lines of business private equity, treasury, real estate, investment banking, capital markets/asset management and Islamic financial debt structured products, the Bank has added Advisory to enhance its revenue streams. The Bank’s subsidiary, based in Dubai, has resources and core competencies to provide such services to various client across the above mentioned sectors. With the above lines of business, the Bank offers unique and specialized opportunities to its shareholders and investors to capitalize on available market opportunities.