Project number Project name Country Sector Department Company name Environmental category Date disclosed Status Previous

Events

8259 First ANZ International Modaraba Middle East and North Africa Foreign Portfolio Equity Fund - Sector Reg Ind, Financial Markets, EMENA First ANZ International Modaraba Limited FI April 3, 1997 Completed Invested: July 10, 1997 Signed: May 19, 1997 Approved: May 16, 1997

Summary Of Project Information (SPI)

Project Name Regional-First ANZ International Modaraba Limited (FAIM) Central Asia, Middle East and North Africa

Region

Sector Project No008259 Projected Board DateMay 15, 1997 Company NameFirst ANZ International Modaraba Limited Technical Partner and/or Major Shareholders Australia and New Zealand Banking Group Limited (ANZ) Project Cost Including proposed IFC investment US$50-100 million (including an IFC equity investment of US$5 million) Location of project and Description of site Fund domiciled in Guernsey and listed in Bahrain
Dana berdomisili di Guernsey dan terdaftar di Bahrain

Description of Company and Purpose of Project The project consists of establishing the first listed Islamic closed-end leasing-oriented fund for emerging markets. The Fund would provide medium-term asset finance, including leasing, for projects primarily in the emerging markets of the Middle East, North Africa, Central Asia, Pakistan and Southeast Asia. The investment objective of the Fund is to achieve a high income return to investors by investing in the financing of productive assets (such as plant, equipment, and machinery). The Fund would seek a listing on the Bahrain Stock Exchange and would serve as a specialized investment vehicle

for investors. The fund management company, ANZ Management Company (Guernsey) Limited, will be assisted by ANZ as its Investment Advisor.
Proyek ini terdiri dari pembentukan terdaftar pertama Islam tertutup penyewaan yang berorientasi dana untuk pasar negara berkembang. Dana ini akan menyediakan pembiayaan jangka menengah aset, termasuk leasing, terutama untuk proyek-proyek di pasar negara berkembang di Timur Tengah, Afrika Utara, Asia Tengah, Pakistan dan Asia Tenggara. Tujuan investasi Reksa Dana adalah untuk mencapai laba pendapatan yang tinggi kepada investor dengan berinvestasi dalam pembiayaan aset produktif (seperti pabrik, peralatan, dan mesin). Dana akan mencari listing di Bahrain Stock Exchange dan akan berfungsi sebagai kendaraan investasi khusus bagi investor. Pengelolaan dana perusahaan, ANZ Manajemen Perusahaan (Guernsey) Limited, akan dibantu oleh ANZ sebagai Penasihat Investasi nya.

Environmental Category and Issues

Kategori Lingkungan dan Isu

This is a Financial Intermediary (FI) category project according to IFC's environmental review procedure. For relevant operations, FAIM will be required to implement an environmental management system consistent with host country requirements and World Bank policies and guidelines. In addition, IFC will assess FAIMs capability to implement the system.
Ini adalah Perantara (FI) proyek kategori Keuangan sesuai prosedur tinjauan lingkungan IFC. Untuk operasi yang relevan, Faim akan diminta untuk menerapkan sistem manajemen lingkungan sesuai dengan persyaratan negara tuan rumah dan kebijakan Bank Dunia dan pedoman. Selain itu, IFC akan menilai kemampuan Faim untuk melaksanakan sistem.

Specific opportunities for Australia include:

attracting foreign full-fledged Islamic banks and conventional bank Islamic windows to establish operations in Australia; attracting investment in Australian assets and businesses from overseas Shariah investors and tapping into new funding sources through Sukuk and other securitised issues; Australian-based banks providing from Australia a range of Shariah-compliant investment and financing products and services to Islamic banks, corporations, institutions and high net worth individuals in the Asia Pacific and the Gulf regions; fund managers establishing Shariah-compliant funds for Asian and Gulf institutional and high net worth individual investors; local exchanges providing an Islamic listings platform for domestic and international issuers of Shariah-compliant instruments; provision by Australian-based financial institutions of Shariah-compliant/ethical financial services and products to Muslim and non-Muslim customers in Australia; Australian-headquartered banks and insurance companies exporting Islamic financial services through windows as they grow their operations into Asia; and Australian-based financial firms, professional services providers and educational institutions exporting their services into Asia and the Gulf.