Ithmaar Bank

The water industry and agriculture are emerging as major new asset classes for Islamic financial institutions, especially in the field of sustainable investments.

In August 2008, Ithmaar joined forces with two leading Middle East banks, Bahrain-based Gulf Finance House and Abu Dhabi Investment House, to form Vision 3, an organisation that provides high-value investment opportunities across a range of sectors including food security

Turkey can attract up to $9 billion funds from Gulf Arab funds, mainly in food and agriculture, the head of the Turkish Investment Support and Promotion Agency said on Monday. "We are working on a big project for the southeastern Anatolia region."

Vision 3, an alliance formed by Gulf Finance House, Ithmaar Bank and Abu Dhabi Investment House, announced the make up of its board at its inaugural meeting yesterday.

Vision3, an alliance of three major Gulf financial institutions, has signed a landmark deal with Turkey paving the way for nearly $9 billion investment in Turkey’s agricultural sector.

As the increase in oil prices continue to help boost the income of Persian Gulf nations, Turkey is becoming a magnet for Gulf-based investors aiming to establish strategic food reserves

Three major multi-billion Shariah-based projects to boost infrastructure, agriculture and hospitality sectors in GCC and elsewhere in the Middle East, North Africa and South Asia were launched here yesterday.

Three new investment funds controlled by prominent Gulf investors will sink at least US$2.8 billion (Dh10.3 bn) into infrastructure, agriculture and hospitality projects in the Middle East and South Asia.

Three of the Gulf's biggest financial house has teamed up to launch three investment vehicles worth $10 billion (Dh36.7bn). The 'strategic' alliance between Gulf Finance House, Ithmaar Bank and Abu Dhabi Investment House covers the infrastructure, agricultural and hospitality sectors and are expected to bring return on investments in 18 months. The agricultural fund is considering Australia, China, the Philippies, India and North African countries for food production and livestock.