European Islamic Investment Bank (EIIB) has announced that it has completed an investment in Rasmala Holdings Limited. Rasmala is a leading investment bank operating in the Gulf Cooperation Council (GCC) countries and Egypt and specializes in asset management, investment banking, brokerage and research. Rasmala was one of the first regional investment banks to be licensed by the Dubai Financial Services Authority with expertise and relationships in the region maintained through its regulated subsidiaries in the UAE, Saudi Arabia, Egypt and Oman. Rasmala serves a wide range of private and institutional clients including government institutions, corporations, family offices and high net worth individuals. Rasmala employs approximately 140 people in the region. Rasmala has substantial assets under management and a prominent shareholder base of over 50 leading investors including Deutsche Bank AG, Sheikh Saud Bin Saqr Al Qassemi (Ruler of Ras Al-Khaimah), Sheikh Mansour bin Zayed Al Nahyan, Diwan of Royal Court Pension Fund of Oman, Bank Muscat, SAMBA Financial Group, and a prominent group of private investors from the Kingdom of Saudi Arabia. Zulfi Caar Hydari, Chief Executive of EIIB said: “Rasmala has a strong regional franchise, and together with EIIB's international capital markets and asset management experience this will be a powerful partnership to seize current opportunities in the GCC. “The GCC is growing in importance as an economic and trading hub as its overall GDP is expected to reach $2 trillion in less than 10 years. Our goal as a public company is to give international investors exposure via a London quoted vehicle to this fast growing region which provides nearly one-quarter of the world's oil supplies.”
