EIIB-Rasmala to target $2bn of Islamic capital from global investors and clients

Download PDF
  • EIIB-Rasmala to offer a broader range of new investment funds, sukuk and Islamic finance solutions to meet growing client demand
  • 30% of target expected to be raised from conventional international investors

London, October 30, 2013:

The EIIB-Rasmala Group (“EIIB-Rasmala”) announced today at the World Islamic Economic Forum its plans to target more than $2bn of capital and investment funds from global investors and clients across its range of Islamic asset management and investment banking products.

EIIB-Rasmala is a London headquartered specialist bank and asset manager focused on serving clients across the Middle East region, and in particular the Gulf Cooperation Council (“GCC”) states. Its clients include major corporations, sovereign wealth funds, banks, insurance companies and pension funds. EIIB-Rasmala operates out of two key hubs in London and Dubai, which allows it to act as a unique gateway and facilitator of both finance and investment between the UK, Europe and the GCC region.

Zak Hydari, Group Chief Executive, EIIB-Rasmala said: “Global Islamic finance assets are now conservatively estimated at more than $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.”

EIIB-Rasmala has rapidly expanded its institutional asset management business over the last 12 months with funds under management having recently crossed the $1 billion mark – making it one of the largest independent asset managers in the Middle East region. Since 2012, EIIB-Rasmala has launched three new Sharia’a compliant funds – the Global Sukuk Fund, the GCC Islamic Equity Income Fund and the Leasing Fund – with further product launches expected later this year.

EIIB-Rasmala was also recently selected to manage assets by one of the largest sovereign wealth funds in the world.

EIIB-Rasmala also continues to expand its investment banking business which specialises in Islamic debt. EIIB-Rasmala recently acted as lead arranger and bookrunner for the European based multinational insurance group, FWU Group, on its US$100 million sukuk al-wakala programme. This unique sukuk offering facilitated investor exposure to a quality, fully Sharia’a compliant and rated European credit.