EIIB-Rasmala, a venture between London-based European Islamic Investment Bank and Dubai’s Rasmala Group, is planning to widen its range of Islamic investment and target more than US$2 billion of capital and investment funds from global investors.
In the last 12 months, the company has expanded its institutional asset management business with funds under management having recently crossed the US$1 billion mark.
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Since 2012, the company has launched three new Sharia’a compliant funds – the Global Sukuk Fund, the GCC Islamic Equity Income Fund and the Leasing Fund.
EIIB-Rasmala group chief executive Zak Hydari said global Islamic finance assets are now conservatively estimated at more than US$1 trillion and growing at 15% per annum.
"We are now investing significantly in new product development in order to meet this growing demand for Islamic investment and financing solutions, not only from our clients in the GCC region, but from our other core markets in the UK and Europe," Hydari added.
"The demand for such investment products and financing is being driven by the significant investment and trade flows between the UK, Europe and the GCC states. Our dual-regional presence and reach puts us in a unique position to offer clients a broad range of innovative Sharia’a-compliant financing and investment options."
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