National Industries Group Holding raises a KD 105 million Syndicated Exchangeable Murabaha

Eagle Proprietary Investments Ltd (‘Eagle’) has acted as Exclusive Financial Advisor to Kuwait-based National Industries Group Holding (‘NI Group’) on a KD 105 million (c. $370 million) Syndicated Exchangeable Murabaha.  Proceeds from the facility will be used to pay off NI Group’s maturing $475 million sukuk, due August 16, 2012.  The financing marks the first ever successful Islamic Exchangeable transaction in Kuwait.

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Ahmed Mohammed Hassan

DIRECTOR - EAGLE PROPRIETARY INVESTMENTS LIMITED & EAGLE INVESTMENTS LIMITED

Ahmed is a General Manager and Finance Manager with National Industries Group Holding. Ahmed currently serves on several Boards including BI Group (UK), Porclad Group, NIC Building Materials, Kuwait Business Town, Markaz, and Iraq Holding Company. From 1982 – 1998, Ahmed was Financial Manager for NI Group. From 1977– 1979, Ahmed was a Partner and Audit Manager of Adil Al Ghanim & Partners. From 1977 – 1982, Ahmed was Financial Manager with Kuwait Asbestos Industries, a wholly owned subsidiary of NI Group. From 1970 – 1977, Ahmed was Chief Accountant with Kuwait Development and Trading Company. Ahmed holds a BA in Accounting from Shams University, Egypt.