Kuwait
Boubyan Bank (Boubyan)
Boubyan Bank was established in 2004 with a paid-up capital of KD 100 million (around USD 300 million) for carrying out all activities of the banking business (financial and commercial) in accordance with the Islamic Shariah and the regulations of the Central Bank of Kuwait (CBK).
Boubyan Bank is built on the ideal of establishing socio-economic equity by influencing the business environment and society in which it operates through the sincere application and ethical practice of Islamic banking and value-creation for its customers, partners and shareholders. TID is a major shareholder of the bank, owning 20% of it.
Al Dar Asset Management Company (ADAM)
ADAM is an Islamic investment company founded in April 2004 as a Kuwaiti shareholding company (K.S.C) with a capital of KD 50 million (around USD 150 million). The company is the investment arm of the Investment Dar Company (TID), and was originally established in 2002 as an independent financial services and asset management sector of TID, before evolving to a fully established subsidiary two years later.
ADAM successfully managed the private placements of several leading companies of TID group including Khabary Holding Company, Manazel Holding, Al Dar National Real Estate (ADNC) and Stehwaz Holding. ADAM business activities cover assets and investments management in all international, Arab and local markets.
Wared Lease & Finance (Wared)
Founded by TID in 2005 with a paid up capital of KD 15 million (around USD 45) million), Wared Lease & Finance builds on TID's legacy in the consumer finance market by offering a wide range of financing and leasing solutions to customers at every stage of their life cycle.
The company’s diverse range of products include a host of personal and business finance solutions, insurance, investment and operating leases.
Wared is the trend setter to first introduce in the market 24 months period lease instead of 13 months. It has got in its fold government employees from various departments in Kuwait for consumer finance secured through salary deduction. It has also extended its facilities to real estate and corporate finance. Wared has several subsidiaries in the vehicles leasing and services industry, including Autociti and Drive Car Rental.
Wethaq Takaful Insurance Company (Wethaq)
Established in 2000, Wethaq Takaful Insurance Company is specialized in the Islamic general and health insurance and reinsurance business. The firm is listed on Kuwait Stock Exchange (KSE) since 2004, and is a major TID subsidiary. Wethaq acquires around 31% of the growing national Takaful market and plans to boost its market share substantially in the promising Kuwaiti Takaful industry.
Credit Rating & Collection (CRC)
The Credit Rating and Collection Company (CRC) was established in 1998 with a paid up capital of KD 3 million (around USD 9 million) and acquired by TID in 2004. The company aims to assist other companies and corporations in recovering their debts from the market, enabling them to focus more on their specialized business. CRC also provides risk management and debt recovery services, protecting the banking and commercial process by fulfilling the cycle of unpaid debts. It is the first listed company in the region that provides professional credit rating services and the first credit rating agency licensed in Kuwait.
Proman Project Management (Proman)
Proman is a limited liability Kuwaiti company established with the objective of project planning and management, cost control, project structuring and development. The company formed several collaborative alliances, notably the alliance with MACE International company, which handled the first stage management services for the master plan of Oqyana World First in the World Island Project in Dubai, UAE together with the first stage management services for Fahaheel Khabary Future City project. Proman is an associate of TID, since 2004, and its strategic ally, Efad Group.
Rehal Logistics (Rehal)
Rehal is a well-established company with a large customer base covering the public sector in Kuwait, American and Iraqi governments, and large corporations of the private sector. Its operations cover Kuwait, Iraq, Saudi Arabia, Bahrain and the U.A.E. The company is specialized in logistic services including distribution and warehousing. Rehal has a fleet of heavy duty trailers, tankers, and specialized carriers, with a radio relayed communication system to monitor regional operations. The company's business has achieved 20% growth Y-O-Y basis, and is planning in to become a leading full-fledged supply chain management operating at a global level. Rehal is part of TID group, since 2005, and its strategic ally, Efad Group.
Stehwaz Holding (Stehwaz)
Stehwaz Holding is Kuwaiti shareholding company closely held by TID and Efad Group. The company specializes in merger and acquisitions transactions with a main focus on IPOs and pre-IPO companies inside the GCC. The company focuses covers acquisitions of family-owned businesses and companies in financial distress with the aim of extracting value through restructuring, merger, capital increase, and provision of other types of financial assistance to maximize profitability. The company was established in 2001 with a capital of KD 100 million (around USD 300 million). In 2006, the company's capital increased to KD 250 million (around USD 750 million).
Oqyana Real Estate (Oqyana)
Qqyana Real Estate was founded in 2002, under the name of "Demnat Alkhaleej" with a capital of KD 1 million (approximately USD 3 million). In 2005, The Investment Dar Company (TID) and its strategic ally, Efad Group, made one of the largest private placements in the history of Kuwait and the region by increasing the company's capital to KD 250 million (USD 750 million) in record time, changing its name to Oqyana Real Estate Company. Oqyana, an associate of TID, is developing Oqyana-World First on the man-made islands of The World off the coast of Dubai, UAE. The project occupies 19 islands of The World, which correspond to the islands of Australasia (Australia and New Zealand). The first stage management services for Oqyana World First project were handled by Proman Project Management.
Khabary Holding Company (Khabary)
The Investment Dar Company (TID) established Al Dar First Holding in 2000 as a shareholding company. In 2004, the company's name and legal entity changed to Khabary Holding Company with a capital increase from KD 10 million (USD 30 million) to KD 50 million (USD 150 million) in a fully covered private placement. In the same year, Khabary, an associate of TID, founded Durrat Al Dar Real Estate Company, which is responsible for the execution of Khabary-Future City project in Fahaheel Area.
The final design services for the project were managed by Proman Project Management. The project is to construct a comprehensive modern city on an area of approximately 240,000 square meters, which is one of the largest privately owned plots in Kuwait.
Manazel Holding (Manazel)
Manazel Holding evolved from Kuwait and Italy General Contracting Company, established in 1983. In 2005, the company changed to Manazel Holding increasing its capital from KD 20 million (USD 60 million) to KD 65 million (USD 195 million). The issuance was managed by Adam, a major subsidiary of TID. Manazel Holding, an associate of TID, sponsored the residential project of Manazel Housing, which emerged from a strategic partnership among TID, Sawaf Real Estate Company and Najeeb Al-Humaidhi Engineering Consultants, with the support of the Public Authority for Housing Welfare in Kuwait.
Al Dar National Real Estate (ADNC)
In 2004, The Investment Dar Company (TID) restructured Al Dar First Real Estate Company, originally established in 2000, with a capital of KD 1 million (USD 3 million). TID increased the firm's capital to KD 35 million (USD 105 million), transforming it to Al Dar National Real Estate (ADNC). The company is an associate of TID and among its real estate projects is the execution of the 50-floor "Capital Tower", on an area of 6,393 square meters at Sharq Area on the heart of Kuwait City. The Capital Tower is to compromise a massive commercial complex, offices and a luxurious hotel, to be one of Kuwait's landmarks.