Rasmala Regulatory News (RMA)

2 Jan 2008 15:37

European Islamic Investment BankPLC02 January 2008 2 January 2008 European Islamic Investment Bank Plc ("EIIB" or "the Company") Directorate Change European Islamic Investment Bank plc ("EIIB" or the "Company") announces that,due to other commitments, Mr. Khalid A. Al Bassam, a Director and the DeputyChairman of the Company, has indicated his intention not to seek re-appointmentas a Director of the Company when his term expires on 17 February 2008. Mr. AlBassam is a founding Director and shareholder of EIIB and has been instrumentalin EIIB's establishment and authorisation as the UK's first independent sharia'acompliant Islamic investment bank. EIIB thanks Mr. Al Bassam for his immensecontribution to the Company and the Board of Directors during his term asDirector. - ENDS - Further information: Fishburn HedgesAndrew Marshall/Michelle James Tel: +44 (0)20 7839 4321 Notes to editors: About EIIB EIIB was incorporated in January 2005 and received its authorisation by the FSAon 8 March 2006. On 3 April, it opened for business, and on 17 May completed itsIPO and was admitted to London's AIM market. Headquartered in London, EIIB's range of products and services include thefollowing Sharia'a compliant investment banking activities: - Islamic Treasury and Capital Markets - Asset Management, including Private Banking - Structured Trade Finance - Corporate Finance and Advisory - Sharia'a Advisory. EIIB aims to deliver a full choice of alternative investment opportunities,enabling Islamic investors to construct balanced and sophisticated portfolioswhich can access a full range of asset classes internationally. EIIB will seek to service a market for Sharia'a compliant investment bankingservices in Europe, the Middle East and Asia that it believes has beenunder-exploited by conventional and Islamic banks, and by non-bankinginstitutions. EIIB intends to become a major participant in the market forIslamic securities, treasury and investment products, which is currentlyexperiencing rapid growth. The founding shareholders of EIIB include Gulf based individuals andinstitutions, including a number of Islamic banks, as well as individuals andcompanies based in Europe. This information is provided by RNS The company news service from the London Stock Exchange