Manama, Capital Management House (“CMH”), the Bahrain based Islamic investment bank, today announced that it has made a 3rd distribution of dividends to GCC investors of its aircraft leasing investment fund for the third quarter ending 30 September 2011.

Dividends for investors in the fund are paid on a quarterly basis and have been calculated at 10 percent per annum. The fund has been structured around a transaction concluded with Emirates Airlines, one of the world’s leading carriers, which was announced in January 2011 and consists of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it has been leased back to Emirates.

The deal, which was undertaken in partnership with Novus Aviation and Muzun Partner Ltd., builds on opportunities in the regional aviation sector, which has shown to be resilient, and on the leasing sub-segment where strong returns can be achieved and where further growth, both in absolute and relative terms, is expected to continue in light of the Middle East’s position as one of the fastest growing travel hubs in the world.

Commenting on the announcement, Mr. Mohamed Aljasim, Chief Investment Officer of CMH, said: “We are pleased to announce the payment of third quarter dividends to our investors across the region for our aviation leasing fund. The fund continues to deliver steady and predictable cash flows for the Bank and our investors and underscores the success of this transaction and CMH’s overall strategy of investing in income yielding assets and growth sectors that can provide for significant upside potential.”
CMH invests in key sectors of the economy and in particular those that are of fundamental importance to the development of the region.

Source:  Bahrain News Agency (BNA)