Reports about EIIB
's money-making schemes eventually led to its abolition.
According to EIIB
's website, Al Zeera has 25 years of international banking experience with major financial institutions in the Kingdom of Bahrain and the United Arab Emirates, including American Express Banking Corporation, Arab Banking Corporation (ABC), Standard Chartered Bank, and First Islamic Investment Bank (now Arcapita).
has also acquired 7.4 percent of Rasmala's existing share capital from Rasmala's chairman, Ali al Shihabi.
Shihabi told Reuters in November that EIIB
was in talks with one party about investing in the bank as part of a capital boost.
, which is strengthening its representative office in Bahrain, had invested $17.5 million in acquiring a 78 per cent stake in TriTech, a US exploration company which owns oil and gas assets in the Pearsall Field, Texas.
Presently chairman of DCD London & Mutual and deputy chairman of Albaraka Bank (BARAKA.BAH) South Africa, Randeree has served as a non-executive director of EIIB
since 2005 and was formerly the company's deputy chairman.
Mr Marx says that the EIIB
is FSA-regulated, and manages risk within the existing framework.
Jeremy Beswick, head of asset management at EIIB
, said: "The most critical aspect of a Sharia compliant transaction is that none of the buildings has been bought with borrowings where interest has been charged or received.
decided to cancel the offer, which was set to expire today, as it could not secure regulatory approval to proceed with the transaction.
The board of directors of the European Islamic Investment Bank plc (EIIB
) on Wednesday revealed that Michael Warren Kidd will not be joining the company as chief financial officer (CFO).
) has announced it has significantly increased its shareholding in its subsidiary Rasmala Holdings Limited (Rasmala) from 56.8 per cent to 76.3 per cent.
She also cited the 2001 case of Buklod ng Kawaning EIIB