Rasmala Regulatory News (RMA)

5 Oct 2007 09:16

European Islamic Investment BankPLC05 October 2007 5 October 2007 EIIB appoints new Non-Executive Director European Islamic Investment Bank plc ("EIIB" or the "Company") is pleased toannounce the appointment of Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah to itsboard of directors as a non-executive director effective from 28 September 2007. Sheikh Mubarak is also Group Vice Chairman of Action Group Holdings Co (KSCC) inKuwait, where he spearheads investment activities in a number of areas includingreal estate and hospitality. He has managed significant investment portfolios inKuwait, GCC and internationally. Adnan Ahmed Yousif, Chairman of EIIB's board of directors, said: "We are delighted that Sheikh Mubarak has agreed to join EIIB. His considerableexperience, industry contacts and reputation will be a huge asset to the companyas we continue to grow the business." In accordance with Schedule Two, paragraph (g) of the AIM Rules, the followinginformation is provided. Sheikh Mubarak (31) holds, or has held, the following directorships: Current directorships: Action Group Holdings Co (KSCC) Action Real Estate Company KSCC Action Hotels WLL Gulf Franchising Limited WLL Al Qurain Petrochemical Industries Company KSC Kuwait-Austria Business and Friendship Association ISKAN Housing Finance Company KSCC Past directorships: Kuwait Holding Company KSCC Kuwait Pearl Real Estate Company KSCC Action Group Holdings Co (KSCC) has a beneficial interest in 28,589,699 ordinaryshares in the Company, representing approximately 1.57% of the Company's issuedordinary share capital. - ENDS - Further information: Fishburn Hedges 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