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Global GCC Islamic Index - Weekly Brief
Global GCC Islamic Index
Close % WTD % MTD % YTD Top Ten Gainers
331.44 ▲ 0.58% 1.53% 7.58% Company Currency Price %Chg. Volume
Global GCC Islamic Index Qatar Islamic Bank QR 91.300 23.38% 1,355,059
700 Al-Enma'a Real Estate Co. KD 0.134 17.54% 20,220,000
Takaful Emarate AED 1.810 11.04% 68,398,960
600
Saudi IAIC Cooperative Insurance Company SR 63.000 9.09% 2,922,799
500 Osoul Investment Company KD 0.085 8.97% 7,240,000
400 Al-Salam Bank - Sudan AED 2.640 7.76% 802,315
Eyas Higher & Technical Education KD 0.290 7.41% 10,000
300
Methaq Takaful Insurance Co AED 5.550 7.35% 7,664,534
200 Investors Holding Group Co. KD 0.059 7.27% 82,080,000
Aug/07 Dec/07 Apr/08 Aug/08 Dec/08 Apr/09 Aug/09 International Investment Group KD 0.077 6.94% 22,520,000
Current Previous Change Top Ten Decliners
Week Week Company Currency Price %Chg. Volume
August 13, 2009
Volume Traded ▼ 1,142,548,856 1,157,567,365 -1.30% Gulf Finance House (US$) US$ 0.650 -16.67% 461,246
Value Traded (US$) ▲ 1,310,751,075 1,197,517,953 9.46% The Securities House KD 0.150 -14.77% 120,000
Market Cap. (US$) ▲ 92,624,853,975 92,086,726,926 0.58% Aref Investment Group KD 0.174 -11.22% 1,560,000
Nafais Holding Company KD 0.095 -10.38% 180,000
Volume Breakdown/Country Islamic Companies Market Cap. vs Total Market Cap Gulf Investment House KD 0.102 -7.27% 3,900,000
UAE 48.89% (US$bn) y p p y
A'ayan Capital Investment Company KD 0.104 -7.14% 3,140,000
350
Kuwait 41.16% Kuwait Real Estate Holding Company KD 0.054 -6.90% 400,000
300 304.24
Saudi Arabia 5.48% Qatar Meat & livestock Co. QR 14.600 -6.41% 1,458,447
Qatar 3.97% 250 First Investment Company KD 0.156 -6.02% 7,200,000
Bahrain 0.43% 200
127.84
Tijara & Real Estate Investment Co. KD 0.064 -5.88% 1,800,000
150 110.51
84.87
Value Breakdown/Country 100 Volume Leaders
Saudi Arabia 36.81% 50
17.0521.70
3.60 13.07
42.30 11.97 18.41 Company Currency Price %Chg. Volume
-
Qatar 27.45%
-
Dubai Financial Market AED 1.800 -0.55% 170,225,634
UAE 18.68% Deyaar Development PJSC AED 0.770 -2.53% 129,657,640
Bahrain Kuwait Qatar Saudi UAE Oman
Kuwait 16.92% Arabia Investors Holding Group Co. KD 0.059 7.27% 82,080,000
Bahrain 0.13% Islamic Mkt Cap. Total Market Cap.
Al Safwa Group Holding KD 0.075 1.35% 80,840,000
Takaful Emarate AED 1.810 11.04% 68,398,960
GCC Exchange Rate vs US$ Islamic Market Cap Breakdown By Country Dubai Islamic Bank AED 2.610 -1.14% 47,273,133
Bahrain Kuwait Al-Madina for Finance & Investment Co. KD 0.098 -1.01% 42,160,000
3.88% 23.43% Qatar
Country Rate 14.11%
Islamic Arab Insurance Company AED 1.300 -0.76% 38,904,792
Saudi Riyal 3.7502 Oman Ajman Bank AED 1.120 -0.88% 38,507,226
Kuwaiti Dinar 0.2888 0.00% Al- Safat Investment Co. KD 0.148 0.00% 34,520,000
UAE Dirham 3.6729
Faisal Hasan, CFA Bahraini Dinar 0.3770 Value Leaders
UAE
Head of Research Qatari Riyal 3.6407 12.92% Saudi Arabia Company Currency Price %Chg. Value US$
fhasan@global.com.kw
Phone No:(965)22951270 Omani Riyal 0.3851 45.66% Barwa Real Estate Company QR 38.200 4.66% 229,010,068
Al Rajhi Bank SR 68.000 4.21% 202,442,149
Rasha Al-Huneidi
Assistant Vice President Global Islamic Funds Dubai Financial Market AED 1.800 -0.55% 83,413,191
huneidi@global.com.kw Fund NAV Performance % Dar Alarkan Real Estate Development Company SR 16.200 1.57% 75,238,950
Phone No:(965)22951285
Kuwait Finance House KD 1.240 -3.13% 67,299,632
(KD) Weekly YTD 2009 Since Inception
Dalia El-Shinnawy Al Rayan Bank QR 11.600 -4.13% 50,425,217
Senior Financial Analyst
dshinnawy@global.com.kw Global Islamic Fund 1.2925 1.12% 0.95% 4.41% Saudi IAIC Cooperative Insurance Company SR 63.000 9.09% 48,057,204
Phone No:(965)22951286 Al-Durrah Islamic Fund 1.304 -2.80% -7.41% 30.36% Dubai Islamic Bank AED 2.610 -1.14% 33,530,601
Global GCC Islamic Fund (US$)* 76.451 4.23% 10.66% -23.55% Takaful Emarate AED 1.810 11.04% 33,465,092
Global Islamic MMF(US$) 111.855 -0.78% -0.38% 3.15% Qatar Islamic Bank QR 91.300 23.38% 28,376,993
*Monthly Performance July 2009
In the News:
Fitch Ratings has downgraded Gulf Investment Corporation <GIHK.KW> Long-term Issuer Default Rating (IDR) to 'BBB' from 'A', Short-term IDR to 'F3' from 'F1',
Support Rating to '2' from '1' and Individual rating to 'D/E' from 'D'. The ratings have been removed from Rating Watch Negative. Fitch has also withdrawn the Support
Rating Floor of 'A'. The Outlook for the Long-term IDR is Stable. GIC's Long-term and Short-term IDRs are support-driven. The downgrade reflects Fitch's view of a
reduced willingness to provide future support as implied by the excessive delays in completing the US$1.1bn capital increase approved by all shareholders last year. To
date, GIC has raised only US$813mn, as certain shareholders have not made their full contribution.
Gulf Finance House <GFHB.BH> approved a US$300mn rights issue and appointed Bank of America Merrill Lynch as financial advisor in an effort to stimulate "a new
period of growth". The rights issue is the first step in "adapting our approach to the markets we serve," said GFH, which is Bahrain's second-largest lender by market
capitalization. The bank also appointed KPMG as corporate finance issue manager. GFH said last week it got the Central Bank of Bahrain’s approval for a capital raise, to
bolster its balance sheet and help fund possible investments.
Al Baraka Banking Group <BARKA.BH> plans to spend about US $100mn on acquisitions this year and expand its branch network despite concerns over rising
provisions and a more cautious approach to new markets, as per Mr. Adnana Yousif the company’s Chief Executive Officer.
AGM of Makkah Construction and Development Company <4100.SE> approved the distribution of cash dividend of SR1.5 per share.
Barwa Real Estate Company <BRES.QA> will build a 50 billion Egyptian pound (US$9.04bn) project in Egypt through its Barwa New Cairo for Real Estate
Investments unit. The Egyptian market will be receiving more than EGP50 billion in the coming few years to be invested in establishing an integrated mixed-use
community project over more than 2000 feddans in New Cairo," Barwa said in a statement on Qatar's bourse website. This billion worth investment assures that Egypt is
still a destination for international investors despite the global financial recession.
Moody's Investors Service has today assigned “A3” long-term and Prime-2 short-term local and foreign currency issuer ratings as well as a “D+” bank financial strength
rating (BFSR) to Masraf Al Rayan <MARK.QA>. The rating outlook is stable. This is Moody's first public rating assigned to an Islamic bank in Qatar.
* Global GCC Islamic Index can be tracked live on Reuters’ screens <GLOO> and on Bloomberg’s pages <GLOH>, or log-on to www.globalinv.net.
Disclaimer
This document and its contents are prepared for your personal use for information purposes only and is not an offer, or the solicitation of an offer, to buy or sell a security or enter into any other agreement. Projections
of potential risk or return are illustrative, and should not be taken as limitations of the maximum possible loss or gain. The information and any views expressed are given as at the date of writing and subject to
change. While the information has been obtained from sources believed to be reliable we do not represent that it is accurate or complete and it should not be relied on as such. Global Investment House, its affiliates
and subsidiaries can accept no liability for any direct or consequential loss arising from use of this document or its contents. At any time, Global Investment House or its employees may have a position, subject to
change, in any securities or instruments referred to, or provide services to the issuer of those securities or instruments
Previous % to total Market
Rank Company RIC Country Currency Closing Change Market Cap US$
Closing Cap
1 Al Rajhi Banking and Investment Corp. 1120.SE Saudi Arabia SR 68 65.25 4.21% 27,267,660,000 29.37%
2 Kuwait Finance House KFIN.KW Kuwait KD 1.24 1.28 -3.13% 9,958,949,581 10.73%
3 Qatar Islamic Bank QISB.QA Qatar QR 91.3 86.1 6.04% 5,184,533,174 5.58%
4 Dar Alarkan Real Estate Development Company 4300.SE Saudi Arabia SR 16.2 15.95 1.57% 4,677,205,680 5.04%
5 Dubai Financial Market DFM.DU UAE AED 1.8 1.81 -0.55% 3,920,400,000 4.22%
6 Jabal Omar Development Company 4250.SE Saudi Arabia SR 19.05 19 0.26% 3,419,196,146 3.68%
7 Dubai Islamic Bank DISB.DU UAE AED 2.61 2.64 -1.14% 2,570,616,816 2.77%
8 Al Rayan Bank MARK.QA Qatar QR 12.2 12 1.67% 2,513,047,500 2.71%
9 Barwa Real Estate BRES.QA Qatar QR 34.8 35 -0.57% 2,508,927,750 2.70%
10 Boubyan Bank BOUK.KW Kuwait KD 0.5 0.5 0.00% 2,031,002,930 2.19%
11 Bank Albilad 1140.SE Saudi Arabia SR 21.1 21.25 -0.71% 1,692,198,900 1.82%
12 Bank Al Jazeera 1020.SE Saudi Arabia SR 20.6 20.9 -1.44% 1,652,099,400 1.78%
13 Abu Dhabi Islamic Bank ADIB.AD UAE AED 2.86 2.99 -4.35% 1,534,368,966 1.65%
14 Qatar International Islamic Bank QIIB.QA Qatar QR 41.7 40.9 1.96% 1,516,910,422 1.63%
15 Makkah Constructions 4100.SE Saudi Arabia SR 33.3 33.9 -1.77% 1,467,208,837 1.58%
16 Deyaar Development PJSC DEYR.DU UAE AED 0.77 0.79 -2.53% 1,211,256,585 1.30%
17 Al Baraka Banking Group $ BARKA.BH Bahrain US$ 1.39 1.31 6.11% 1,034,238,608 1.11%
18 Sahara Petrochemical 2260.SE Saudi Arabia SR 20.4 20.4 0.00% 1,022,537,288 1.10%
19 Kuwait International Bank (KWT R.E Bank) KIBK.KW Kuwait KD 0.248 0.25 -0.80% 896,208,833 0.97%
20 The Commercial Real Estate Company TIJK.KW Kuwait KD 0.14 0.138 1.45% 836,331,164 0.90%
21 Aref Energy Holding Company AREF.KW Kuwait KD 0.27 0.26 3.85% 705,451,275 0.76%
22 Aref Investment Group AIGK.KW Kuwait KD 0.174 0.196 -11.22% 643,318,325 0.69%
23 Gulf Finance House (US$) GFHB.BH Bahrain US$ 0.65 0.78 -16.67% 621,193,417 0.67%
24 Sharjah Islamic Bank SIB.AD UAE AED 1.03 1.01 1.98% 616,918,500 0.66%
25 Gulf Holding Company GHCD.QA Qatar QR 17.3 16.9 2.37% 590,731,881 0.64%
26 Ithmaar Bank (US$) ITHMR.BH Bahrain US$ 0.235 0.23 2.17% 511,007,493 0.55%
27 Alafco Aviation Lease & Finance Co. ALAF.KW Kuwait KD 0.206 0.206 0.00% 493,473,184 0.53%
28 Amlak Finance AMLK.DU UAE AED 1.02 1.02 0.00% 416,542,500 0.45%
29 Al-Safat Investment Co. SAFT.KW Kuwait KD 0.148 0.148 0.00% 402,159,482 0.43%
30 Bahrain Islamic Bank BISB.BH Bahrain BD 0.206 0.204 0.98% 398,104,673 0.43%
31 Islamic Arab Insurance Company IAIC.DU UAE AED 1.3 1.31 -0.76% 389,317,500 0.42%
32 Al-Khaleej Commercial Bank KHCB.BH Bahrain BD 0.137 0.142 -3.52% 381,554,935 0.41%
33 Al Salam Bank SALAM.BH Bahrain BD 0.119 0.115 3.48% 378,769,860 0.41%
34 Alujain Corporation 2170.SE Saudi Arabia SR 19.95 19.6 1.79% 369,059,758 0.40%
35 First Finance Co. FFCK.QA Qatar QR 20.7 22.4 -7.59% 363,372,988 0.39%
36 The Securities House SECH.KW Kuwait KD 0.15 0.176 -14.77% 355,338,420 0.38%
37 First Investment OLAK.KW Kuwait KD 0.156 0.166 -6.02% 353,829,993 0.38%
38 Ra'ad Stores Company SAFK.KW Kuwait KD 0.075 0.074 1.35% 339,661,725 0.37%
39 Abyaar Real Estate Development Co. ABYR.KW Kuwait KD 0.091 0.094 -3.19% 338,344,970 0.36%
40 Ajman Bank AJBNK.DU UAE AED 1.12 1.13 -0.88% 304,920,000 0.33%
41 Saudi Public Transport Co. 4040.SE Saudi Arabia SR 8.2 8.25 -0.61% 274,013,250 0.30%
42 Tamweel TAML.DU UAE AED 0.99 0.99 0.00% 269,527,500 0.29%
43 Hail Agriculture 6030.SE Saudi Arabia SR 31.5 29.8 5.70% 252,626,850 0.27%
44 Saudi Industrial Services Co. (SISCO). 2190.SE Saudi Arabia SR 13.6 13.3 2.26% 247,226,784 0.27%
45 The Investment Dar TIDK.KW Kuwait KD 0.074 0.074 0.00% 245,974,943 0.26%
46 A'ayan Leasing & Investment Company AAYA.KW Kuwait KD 0.104 0.112 -7.14% 231,448,155 0.25%
Previous % to total Market
Rank Company RIC Country Currency Closing Change Market Cap US$
Closing Cap
47 Methaq Takaful Insurance Co. METH.AD UAE AED 5.55 5.17 7.35% 226,648,125 0.24%
48 Sokouk Holding Co. SHCK.KW Kuwait KD 0.064 0.066 -3.03% 222,957,440 0.24%
49 Investors Holding Group Company TOUR.KW Kuwait KD 0.059 0.055 7.27% 219,926,612 0.24%
50 Credit Rating & Collection Co. TAHS.KW Kuwait KD 0.42 0.42 0.00% 219,473,730 0.24%
51 Al-Enma'a Real Estate Co. ENMA.KW Kuwait KD 0.134 0.114 17.54% 210,317,313 0.23%
52 Nafais Holding Company NAFA.KW Kuwait KD 0.095 0.106 -10.38% 206,305,821 0.22%
53 INOVEST (US$) INOV.BH Bahrain US$ 0.75 0.77 -2.60% 200,825,625 0.22%
54 Al Shall Consultants & Investment (AMAN) AMAN.KW Kuwait KD 0.102 0.106 -3.77% 172,806,404 0.19%
55 Saudi IAIC Cooperative Insurance Company 8050.SE Saudi Arabia SR 63 57.75 9.09% 168,417,900 0.18%
56 National Leasing Holding NLCS.QA Qatar QR 17.4 17.9 -2.79% 157,640,948 0.17%
57 Gulf Investment GIHK.KW Kuwait KD 0.102 0.11 -7.27% 157,127,501 0.17%
58 First Takaful Insurance FTIK.KW Kuwait KD 0.45 0.45 0.00% 156,766,950 0.17%
59 A'ayan Real Estate Co. AYRE.KW Kuwait KD 0.12 0.12 0.00% 150,098,062 0.16%
60 Haj & Umrah Services Consortium (Mashaer) MASK.KW Kuwait KD 0.255 0.246 3.66% 142,317,710 0.15%
61 Emirates Islamic Bank EIB.DU UAE AED 0.68 1.1 -38.18% 138,384,675 0.15%
62 Manazel Holding MANK.KW Kuwait KD 0.053 0.055 -3.64% 132,015,190 0.14%
63 Munshaat Real Estate Projects Co. MUNS.KW Kuwait KD 0.116 0.122 -4.92% 130,123,539 0.14%
64 Al-Madina for Finance & Investment Co. MADI.KW Kuwait KD 0.098 0.099 -1.01% 128,985,260 0.14%
65 Qatar Islamic Insurance QIIC.QA Qatar QR 30.2 29.8 1.34% 124,416,450 0.13%
66 International Investment Group IIGK.KW Kuwait KD 0.077 0.072 6.94% 122,508,736 0.13%
67 Grand Real Estate Projects GRND.KW Kuwait KD 0.07 0.068 2.94% 110,907,392 0.12%
68 Ekttitab Holding Co. EKTT.KW Kuwait KD 0.061 0.062 -1.61% 109,865,762 0.12%
69 Educational Holding Group EDUK.KW Kuwait KD 0.128 0.126 1.59% 109,384,269 0.12%
70 Osoul Leasing & Financing Co. OSUL.KW Kuwait KD 0.085 0.078 8.97% 103,059,986 0.11%
71 International Leasing & Investment Co. ILIC.KW Kuwait KD 0.094 0.094 0.00% 102,514,482 0.11%
72 Al-Madar Finance & Investment Co. MADR.KW Kuwait KD 0.08 0.082 -2.44% 102,380,942 0.11%
73 Eyas Higher & Technical Education EYAS.KW Kuwait KD 0.29 0.27 7.41% 101,027,590 0.11%
74 The International Ivestor TIIK.KW Kuwait KD 0.054 0.055 -1.82% 92,596,961 0.10%
75 TIJARA & REALESTATE INVESTMENT CO. TIJA.KW Kuwait KD 0.064 0.068 -5.88% 85,718,788 0.09%
76 Abu Dhabi National Takaful Company TKFL.AD UAE AED 4.41 4.46 -1.12% 79,241,093 0.09%
77 Al Dar National Real Estate ADNC.KW Kuwait KD 0.052 0.051 1.96% 76,084,226 0.08%
78 Takaful Emarat TKFE.DU UAE AED 1.81 1.63 11.04% 73,915,875 0.08%
79 AL SALAM BANK (SUDAN) SSUD.DU UAE AED 2.64 2.45 7.76% 71,874,000 0.08%
80 Dubai Islamic Insurance and Reinsurance AMAN.DU UAE AED 1.31 1.3 0.77% 71,329,500 0.08%
81 Salbookh Trading Company SALB.KW Kuwait KD 0.1 0.102 -1.96% 71,328,962 0.08%
82 Takaful House DTKF.DU UAE AED 2.6 2.51 3.59% 70,785,000 0.08%
83 Qatar Meat & Livestock QMLS.QA Qatar QR 13.7 14.2 -3.52% 67,728,690 0.07%
84 Al-Muwasat Holding Co. MHCK.KW Kuwait KD 0.18 0.18 0.00% 60,700,163 0.07%
85 Arkan Al-Kuwait Real Estate Co. ARKK.KW Kuwait KD 0.078 0.076 2.63% 60,097,157 0.06%
86 Kuwait National Real Estate Services & Investment NREK.KW Kuwait KD 0.054 0.058 -6.90% 59,257,907 0.06%
87 Kuwait Resorts MUNK.KW Kuwait KD 0.09 0.09 0.00% 58,665,328 0.06%
88 Mubarrad Transport Co. MBRD.KW Kuwait KD 0.092 0.094 -2.13% 49,819,929 0.05%
89 Safwan Trading & Contracting Company SAFW.KW Kuwait KD 0.236 0.236 0.00% 41,107,784 0.04%
90 Gulf Petroleum Investment GPIK.KW Kuwait KD 0.073 0.07 4.29% 40,954,216 0.04%
91 Takaful International Co. TAKA.BH Bahrain BD 0.305 0.305 0.00% 40,449,863 0.04%
92 Islamic Financials Securities Company IFSS.QA Qatar QR 35 35.3 -0.85% 38,451,067 0.04%
93 Wethaq Insurance WETH.KW Kuwait KD 0.083 0.083 0.00% 31,878,559 0.03%
94 Gulf Monetary Group (BD) GMGB.BH Bahrain BD 0.035 0.035 0.00% 29,707,440 0.03%
95 National Company For Consumer Industrial NCCI.KW Kuwait KD 0.082 0.086 -4.65% 25,709,780 0.03%
96 Gulf Horizon Holding Co. GHHK.KW Kuwait KD 0.0485 0.0485 0.00% 5,068,798 0.01%
Global Kuwait Global Bahrain Global Dubai
Tel: (965) 2 295 1000 Tel: (973) 17 210011 Tel: (971) 4 257977
Fax: (965) 2 295 1005 Fax: (973) 17 210222 Fax: (971) 4 257960/1/2
P.O.Box 28807 Safat, 13149 Kuwait P.O.Box 855 Manama, Bahrain P.O.Box 121227 Dubai, UAE
Global Abu Dhabi Global Saudi Arabia Global Qatar
Global Investment House Tel: (971) 2 6744446 Tel: (966) 1 2199966 Tel: (974) 4967305
Global Tower Fax: (971) 2 6725263/4 Fax: (966) 1 2178481 Fax: (974) 4967307
Sharq, Al-Shuhada Str. P.O.Box 127373 Abu Dhabi, UAE P.O. Box 66930 Riyadh 11586, Kingdom P.O.Box 18126 Doha, Qatar
P.O. Box: 28807 Safat, 13149 Kuwait of Saudi Arabia
Website: www.globalinv.net Global Egypt Global Jordan
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Tower, Giza
Alternative Investment Research Index
Shailesh Dash, CFA Faisal Hasan, CFA Rasha Al-Huneidi
(965) 2295-1200 (965) 2295-1270 (965) 2295-1285
shaileshdash@global.com.kw fhasan@global.com.kw huneidi@global.com.kw
Structured Finance Wealth Management -MENA & Far East MENA Asset Management
Mohammad AbdulAziz Fahad Al-Ibrahim Talal Samhouri, CFA
(965) 2295-1338 (965) 2295-1400 (962) 6 5005060
maziz@global.com.kw fahad@global.com.kw tsamhouri@global.com.jo
Investment Banking International Asset Management Wealth Management - Kuwait
Pratik Agarwal Faisal Quttaineh Rasha Al-Qenaei
1543-2295 (965) (965) 2295-1258 (965) 2295-1380
pagarwal@global.com.kw faisal@global.com.kw alqenaei@globlal.com.kw
International Sales Asset Management - GCC Brokerage
Shahid Hameed, CFA Ahmed Karim
(965) 2295-1434 (965) 2295-1150 (965) 2295-1703
sjeiroudi@global.com.kw shameed@global.com.kw akarim@global.com.kw
Corporate Desk
Rasha Al-Qenaei
(965) 2295-1380
alqenaei@globlal.com.kw
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