The Al-Qadi Investors – What we know
The Al-Qadi family have taken the reigns at Bristol Rovers.
As well all know, rumours have been rife amongst Rovers fans of a potential takeover or investment from an unnamed consortium.
Today the news has gone public and naturally, it’s been met with differing opinions.
Some interesting things that a bit of digging (thanks to Doug Walker for assistance with this), has found.
The Al-Qadi family is one of the most influential in Jordan, and is headed by Adbulkader Al-Qadi. Their main business interests being in the tourism and banking industries.
It is thought that one of Abdulkader Al-Qadi’s sons, Wael, will join the club at board level – though the investment is seen as a family commitment. Wael Al-Qadi’s LinkedIn shows some of his employment history.
Wael is currently vice president of the Asian Football Development Project, and boasts a CV including being a member of the executive board at both the Jordan Football Association, and the FIFA U17’s Womens World Cup.
In terms of their business and wealth, the Arab Jordan Investment Bank completed a takeover of HSBC’s Jordan operations back in 2014.
Arab Jordan Investment Bank (AJIB) has entered into an agreement to acquire HSBC Bank Middle East Limited’s banking business in Jordan. At 30 September 2013, that Business comprised four branches with gross assets of approximately USD1.2 billion. The transaction is expected to be completed during the first half of 2014.
Back in 2014, ‘Venture-Mag.com‘ published an article on Jordan’s most wealthy and influential business people – ‘The Power List’. The Al-Qadi’s feature promintently, see the below quote:
ABDULKADER AL-QADI FAMILY
PROMINENT INDIVIDUALS: Abdulkader Abdullah al-Qadi, Chairman of the Arab Jordan Investment Bank PLC (AJIB), Hani Abdulkader al-Qadi, AJIB CEO and General Manager.
MAIN SECTORS: Banking and tourism.
WHY THEY MATTER: With its takeover of HSBC’s assets in Jordan, AJIB has become a banking force to be reckoned with.
Abdulkader Abdullah al-Qadi started his career in Qatar, where he acted as a financial adviser to senior officials. He then came back to Jordan to establish the Arab Jordan Investment Bank (AJIB) in 1978.
AJIB has a banking arm based in Qatar, the Arab Jordan Investment Bank (Qatar) L.L.C., which was founded in 2006 to serve clients in the Gulf region. It also has two subsidiaries; the United Arab Jordan Company for Investment and Financial Brokerage and the Arab Advisors Group, a research and consulting company.
Abdulkader al-Qadi is a main shareholder with 17.6 percent. His sons—Hani, Samer, and Wael—are also prominent shareholders with combined shares of 13.5 percent. The bank’s growing importance in Jordan’s banking sector is clear with the list of shareholders including the Libyan Foreign Bank (12.79 percent), the Arab Investment Company (10.25 percent), Sheikh Hamad bin Jassim bin Jaber Al Thani (9 percent), and Jordan’s Social Security Corporation (4 percent).
AJIB’s investment capabilities have contributed to its growth locally and regionally. A major new $1.2 billion deal to acquire HSBC bank’s assets in Jordan proved the bank is a powerhouse and a force to be reckoned with.
Following the agreement, AJIB decided to raise the bank’s capital to JD150 million, from JD100 million. Under the takeover plan, which is due to be completed by May-June of this year, AJIB will take on HSBC’s 36,000 retail and 2,000 corporate customers, as well as most of the bank’s 250 full-time employees.
Commenting on the deal, Hani al-Qadi said the acquisition was part of AJIB’s growth strategy, and the business acquired complemented the bank’s existing product line and consolidated its market share in the Jordanian market.
Abdulkader al-Qadi and his sons are also major shareholders in the Mediterranean Tourism Investment company which owns the lavish Four Seasons Hotel Amman. Abdulkader al-Qadi is the company’s chairman.
You can also read a copy of the banks Annual Reports for 2014 here.
Bristol Rovers will host a press conference at 1:30PM, in which the club will hopefully clarify some of the finer details. But it would seem the money and interest is there, and the club could be about to embark on one of the most import periods in our history.