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Ittihad Capital Names New Chairman & CEO
16:00 EST Friday, December 22, 2006
CALGARY, ALBERTA
Ittihad
Capital Corporation
("Ittihad" or "the Company") is pleased
to
announce that Mr. Khalid Usman has accepted the
position of Chief Executive Officer of the
company. Mr. Usman will also be joining the
company’s Board of Directors as its new Chairman.
Mr. Usman, a Chartered Accountant, comes from
Tri-Vision International Ltd. (TVL-TSX), where he
served as Chief Financial Officer for nine years
till he stepped down in October 2006 to pursue
other opportunities. Mr. Usman brings wealth of
experience to Ittihad with over 35 years of
professional services and is a long-time resident
of the city of Markham where he also served as an
elected Councilor for 9 years.
Mr. Usman’s appointment as Chairman and CEO of
Ittihad Capital is effective December 15th,
2006. Mr. Usman will replace Dr. Hatim Zaghloul,
who will continue to remain as one of the
company’s largest shareholders and the Chair of
the company’s Business & Ethics Advisory
Committee.
"I am delighted to have Mr. Usman join our team,”
said Suhail Ahmad, President of Ittihad Capital
Corporation. “Ittihad needed a leader with an
experienced track record in finance and who also
understands the investment and business dynamics
of Ontario as we build Ittihad Securities into an
industry leader in ethical investing.”
“Ittihad has come a long way in the past two
years,” said Dr. Hatim Zaghloul, “I am proud to
have been involved with it from the beginning and
am looking forward to great achievements under the
leadership of Mr. Usman.”
As part of Mr. Usman’s appointment, Ittihad
Capital will be relocating the company’s head
office to Toronto, Ontario. Ittihad plans to
retain its Calgary office to oversee the projects
and business ventures in Alberta. Mr. Usman’s
first order of business will be to review the
company’s current business operations and capital
projects to maximize capital efficiencies and
develop an integrated strategy to establish the
company as the leading ethical financial services
firm in North America. Particular emphasis will
be given to strategic planning including efforts
to identify key managers, build strategic
partnerships, and enhance the company’s investment
services platform.
“I am very excited and looking forward to the challenge of
taking Ittihad to the next level,” stated Mr.
Usman. “The potential of ethical investment
services in Canada is tremendous. Ittihad has a
strong team of professionals who are dedicated to
realizing the extraordinary growth potential of
the company’s products and services.”
Mr. Usman has more than 35 years of business and
professional experience. He is currently a board
member of Tri-Vision International Ltd. He is also
a director with York Region Community Foundation,
and Universal Youth Foundation and former
President of International Development Relief
Foundation (IDRF). He is a recipient of the
Ontario Ministry of Citizenship & Culture’s five
years of Community Service Award.
About Ittihad Capital Corporation
Ittihad Capital Corporation is a private equity
firm providing structured financing, real estate
development, consulting and project management
through unique profit sharing arrangements. The
company primarily operates in the real estate,
construction, transport, and financial services
sector.
About Ittihad Securities Inc.
Ittihad Securities Inc., a wholly owned subsidiary
of Ittihad Capital Corporation, is a North
American leader in ethical investment and
financial solutions serving the global
marketplace. Ittihad offers its clients fair,
equitable, and cost-effective solutions to help
achieve their financial objectives without
compromising their beliefs and values. Services
include financial advisory, wealth management,
corporate finance, as well as corporate strategy,
mergers, acquisitions and capital funding.
Forward Looking Information
Certain statements in this release, other than
statements of historical fact, may include
forward-looking information that involves various
risks and uncertainties. These may include,
without limitation, statements based on current
expectations involving a number of risks and
uncertainties. These uncertainties may cause
actual results to differ from information
contained herein. There can be no assurance that
such statements will prove to be accurate. Actual
results and future events could differ materially
from those anticipated in such statements. These
and all subsequent written and oral
forward-looking statements are based on the
estimates and opinions of management on the dates
they are made and expressly qualified in their
entirety by this notice. The Company assumes no
obligation to update forward-looking statements
should circumstances or management's estimates or
opinions change.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ittihad Capital Corporation
Suhail I.
Ahmad
Managing Director and
President
(416) 848-0622
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