Dubai-UAE: November 19, 2019 – Noor Bank, one of the leading Shari’a-compliant banks in the UAE, has raised AED646 million for the Rasmala Long Income Fund (“the Fund”), the first Islamic finance instrument to invest in long-lease and ground-rent real estate markets in the UK and Continental Europe.
The Fund provides wide exposure to a portfolio of long-lease properties, aiming to generate regular income whilst preserving capital over time. In line with Noor Bank’s strategy to offer diversified investment opportunities to its customers, the Fund has developed an alternative income-focused investment strategy.
About Noor Bank
Noor Bank began operations, in Dubai, in 2008, as an Islamic financial institution. It is a full-service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised service. Noor Bank is governed by the Internal Shari’a Supervision Committee, with extensive experience and expertise in Islamic legal, financial and banking matters. Noor Bank is rated “A-” IDR with a stable outlook by Fitch Ratings. The corporate shareholders of the Bank are The Office of the Crown Prince of Dubai (25.73%), the Investment Corporation of Dubai (22.71%) and the Emirates Investment Authority (4.7%). The remaining shares are beneficially held by individuals who each own less than 5% of Noor Bank. For further details, please visit: www.noorbank.com or call 800 6667.
About Rasmala Holdings (RHL or Rasmala)
Established in 1999, Rasmala is a leading alternative investment firm which invests directly and alongside Gulf-based institutional investors including banks, pension funds, endowments, family offices, corporations and government institutions. Rasmala Investment Bank Limited is a wholly owned subsidiary based in the Dubai International Financial Centre (“DIFC”) and regulated by the Dubai Financial Services Authority (“DFSA”). For further details, please visit www.rasmala.com.
For media enquiries on Noor Bank, please contact:
Leah Majorie Banda
Mobile: +971 55 965 3647
For media enquiries at Rasmala:
Tel: +971 4 424 2757