Dubai, 17 December 2013: The EIIB-Rasmala Group (‘The Group’) joined over 200 bankers and financiers from across the globe on 11 December in Dubai, for the annual Islamic Business & Finance Awards. EIIB-Rasmala was named ‘Best Islamic Bank in Europe’.
These industry awards celebrate the achievements of the top Islamic finance banking institutions from across the Middle East, Asia, and Europe.
Commenting on the award, Zak Hydari, Chief Executive of EIIB-Rasmala, said:
“2013 has been another milestone year in the continued growth of the EIIB-Rasmala Group. The creation of the EIIB-Rasmala Group has established a unique platform for the origination and execution of Islamic finance activity, transactions and investment opportunities between the global financial centers of London and Dubai.
“2013 saw our Group continue to provide market leading investment banking products, such as our role as the arranger and bookrunner for European-based multinational insurance group FWU on their innovative US$100 million sukuk al-wakala programme. We also launched a number of exciting new investment funds including the Rasmala Trade Finance Fund, the Rasmala Global Sukuk Fund, the Rasmala Leasing Fund and the Rasmala GCC Islamic Equity Income Fund. All of these funds were launched in response to the increasing global demand for Sharia-compliant investment products. We are extremely pleased to have these achievements recognized by such a respected panel of experts, as well as our industry peers.”
The Group also announced plans in October 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.
The Islamic Business & Finance Awards, sponsored by CPI Financial, convenes an international panel of judges who compile short-lists of the top banks in 40 corporate categories. These lists are then offered to public voters to determine the winners. The accolade of Best Bank was awarded to the institution achieving the highest average vote across the various banking categories. The Islamic Business & Finance Awards programme, running for its eighth year, is designed to highlight, encourage and reward the exceptional performance and growth of the international Islamic business and finance community.
About EIIB-Rasmala
EIIB-Rasmala (‘The Group’) is one of the largest, independent financial institutions focused on GCC markets with client assets of over $1.1bn. The Group’s primary focus is to provide investment management and financing solutions to clients in the UK and MENA region. The Group’s parent company, EIIB, is London-headquartered and listed on the Alternative Investment Market (AIM) of the London Stock Exchange and is regulated by the Bank of England Prudential Regulation Authority. EIIB was established in the United Kingdom as the first investment bank to operate on wholly Islamic basis. EIIB-Rasmala employs approximately 100 staff in London, Dubai, Muscat, Riyadh and Cairo.
*This press release was published by Zawya.com. Read the original article here.