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US$90 Million Modaraba Venture Capital project

January 2008

Bahrain-based leading Islamic Bank launched its $90 million Modaraba (venture capital) that will invest in Shari’a-compliant real estate developments in Turkey.

The modaraba will have an investment term of three years and will target residential and mixed-use real estate development in Istanbul, and secondary homes on the Turkish coast.

Haya Rashed Al Khalifa Attorneys at Law & Legal Consultants acted as legal advisors to the issuing Bank in relation to this transaction. 

The HRAK Team was headed by Haya Al Khalifa.

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