First Energy Bank
From Taighde
First Energy Bank is a Bahrain based energy investment bank. The bank was capitalized in June 2008 with $1 billion. The bank will focus on energy investments in the oil and gas sectors, which can include exploration and production (E&P), processing and oil-field services to petrochemicals and power generation. The bank will make direct investments. It operates according to Islamic Sharia law, and is licensed by the Central Bank of Bahrain and headquartered in Manama, Bahrain.
Investors in the bank include the Libyan Investment Authority, Tasameem, a subsidiary of the Abu Dhabi Investment Authority, Abu Dhabi Water and Electricity Authority, Dubai Investments, Emirates Islamic Bank, Khaleeji Commercial Bank, and Gulf Finance House. Tasameem controls 10% of the bank. The LIA, Abu Dhabi Water and Electricity Authority, and Dubai Investments have a combined control of 30%.
Leadership
| Esam Yousif Janahi | Chairman |
| Hamad Rashed Nehail Al Neaimi | Vice Chairman |
| Mustafa Zarti | Vice Chairman |
| Abdulla A. Karim Showaiter | Board Member |
| Khadem Al Qubaisi | Board Member |
| Ahmed Saif Al Darmaki | Board Member |
| Khalid Jassim Mohd. bin Kalban | Board Member |
| Sadoun Bargash Hamoud Al Sadoun | Board Member |
| Adel Al Jaber | Board Member |
| Khalid Najibi | Board Member |
| Ebrahim H. Ebrahim | Board Member |
| Mehran Jamsheer | Board Member |
| Hisham Al Emadi | Board Member |
Investments
So far the bank has made one investment in the creation of a joint venture MENAdrill, an offshore drilling and services company.
According to Esam Yousif Janahi, chairman, two additional investments will be made public in the spring of 2009. In the fall of 2009, FEB invested in a $1 billion polysilicon plant in Saudi Arabia. [1]
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