First Energy Bank (FEB) is the first Islamic investment bank of it’s kind and represents entirely new thinking in the financing of companies operating within the hydrocarbons sector. Drawing on GFH’s profound experience in the energy space, FEB was created with paid up capital of US$ 750 million to offer a new kind of intelligent finance to companies operating within the burgeoning energy markets in the GCC, Asia and North Africa.
According to the International Energy Agency’s World Energy Outlook 2007, the energy infrastructure for the MENA region alone will require an injection of US$ 56 billion every year from now until 2030. Over the next 5 years alone they anticipate demand for US$ 280 billion in investment and FEB will be perfectly poised to capitalize on this with its unique brand of energy-centric finance products.
This initiative will means the many private developers with sound energy project concepts but short of the capital and specific energy development expertise will find a crucial resource in FEB. Furthermore, FEB will create high returns for clients by focusing on a variety of upstream, downstream transportation, petrochemicals, power and IWPP projects.