Tuesday 19 June 2018

UK Islamic bank eyes 30pc Rasmala stake

Dubai, December 22, 2011

UK-based European Islamic Investment Bank (EIIB) is in talks to acquire a 30 per cent stake in Dubai-based Rasmala Investment Bank, two sources with knowledge of the matter told Reuters on Thursday.

The acquisition, which is set to be completed in early 2012, will be made through a fresh issue of shares by Rasmala which EIIB will buy, the sources said.

Rasmala's chairman, Ali al Shihabi, told Reuters in November that it was in talks about a capital boost.

Rasmala's chief executive officer, Anwar Abu Sbaitan, declined to comment.-Reuters

Tags: Dubai | European Islamic Investment Bank | UK | Stake | Islamic bank | Rasmala |

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