Saturday 14 November 2009

Saffar to launch Mideast private equity fund

Dubai-based private equity firm Saffar Capital is launching a private equity fund focusing on financial services in the Middle East to take advantage of an improving outlook in the sector, the company's chief executive said.

"The general health of the sector is okay," Mishaal Al-Usaimi told Reuters on the sidelines of an investor presentation.

"The governments and the regulators are very supportive in getting the banks operating. There are certain areas where there is huge pent-up demand, for instance mortgages are not developed."

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