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European Islamic Investment Bank acquires 35 pct stake in Rasmala

Posted on 09 January 2012

European Islamic Investment Bank is to invest $16 million over 12 months in Rasmala Holdings Ltd via a financing facility convertible into shares representing about 35 percent of the group’s enlarged capital. Rasmala chairman Ali Shihabi said that Rasmala chief executive Anwar Abu Sbaitan would continue in that role. Shihabi will be chairman of Rasmala’s supervisory board.

Rasmala, which has around $900 million in assets, has offices in the United Arab Emirates, Saudi Arabia, Oman and Egypt and operates in asset management, corporate finance and institutional brokerage………………………………………Full Article: Source

 
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