BIIHBritish Islamic Insurance Holdings
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BIIH was formed last year and raised a capital of [pounds sterling]19 million from Gulf-based institutional and private investors during the year.
This moves us one step closer to full regulatory approval," said BIIH chief executive officer Bradley Brandon-Cross.
BIIH chairman Abdulaziz Aljomaih highlighted the large scale business opportunity for Takaful products in the UK and the investment opportunity for Gulf citizens wishing to invest in Islamic financial services outside the region.