Rasmala Regulatory News (RMA)

3 Jul 2008 11:58



European Islamic Investment Bank plc

3 July 2008

European Islamic Investment Bank Plc ("EIIB" or "the Company")

Directorate Changes

Further to the Annual General Meeting announcement made on 9 May 2008, EIIB announces that the following persons have been appointed Non-executive Directors of the Company:

Mr. Zaher Mohammad Sulaiman Al-Ajjawi, aged 31. He was appointed on 2 July 2008 and holds no shares in the Company. Mr. Al-Ajjawi is Director, Financial Investments at Premier Group, Bahrain. Previously, he was Vice President, Real Estate Investments at Morgan Stanley Dubai; Executive Director, Real Estate Unit at Gulf Finance House; and Supervising Senior Auditor at KPMG. Mr. Al-Ajjawi holds a Bachelor of Accounts from Bahrain University.

Mr. Subhi Benkhadra, aged 44. He was appointed on 2 July 2008 and holds no shares in the Company. Mr. Benkhadra is Chief Executive Officer of Esterad Investment Company, Bahrain.  He was previously Chief Executive Officer and Managing Director of Investment Trust Ltd.; Deputy Managing Director of Primecorp Investment Management Ltd.; and Head of Arab Capital Markets at United Bank of Kuwait Plc. Mr. Benkhadra holds a B.Sc (Engineering) from the University of Bath, UK and an MBA from City University Business School, UK.

Mr. Mohammed Abdul Aziz Ibrahim Al Sarhan, aged 54. He was appointed on 2 July 2008 and holds 3,049,567 ordinary shares in the Company. Mr. Al Sarhan has been Vice President and Chief Operating Officer of Al Faisaliah Group, Kingdom of Saudi Arabia since 2001. Previously, he was Managing Director, Al Safi Danone Co. Ltd. and Vice President, Samarec. He is a Board Member of Saudi Arabian Public Transport Co.; Board Member of National Shipping Co. of Saudi Arabia; Vice Chairman of the Saudi French Business Council; Member of the Gulf Marketing Organization; Board Member of Al Safi Danone Co. Ltd; Board Member of Saudi Fresh Dairy Board; and President of the Al Safi Club for Friends of the Environment. Mr. Al Sarhan holds a B.Sc (Mathematics) from Oregon State University, USA.

In addition, the Company announces that Mr. Keith George McLeod, aged 44, has been appointed an Executive Director and the Finance Director of the Company. He was appointed on 2 July 2008 and holds no shares in the Company. Mr. McLeod started his career at Price Waterhouse and was previously Executive Director, Head of Fund Services and Logistics Reporting at UBS Global Asset Management. He has held senior positions at Schroders plc, Credit Suisse First Boston, Morgan Stanley and HSBC. He holds a B.Sc (Economics) from the London School of Economics, UK.

The Company is delighted to welcome the new directors, who together bring immense banking and operational experience to EIIB, and looks forward to their contribution to its business. 

There are no further disclosures required to be made in respect of the above new directors with regard to paragraph (g) of Schedule 2 of the AIM Rules.

Ends

For further information:

Evolution Securities Limited Tel: +44 (0)20 7071 4300

Bobbie Hilliam

Fishburn Hedges Tel: +44 (0)20 7839 4321

Michelle James

Notes to editors:

About EIIB:

EIIB was incorporated in January 2005 and received its FSA authorisation in March 2006. It commenced business in April 2006 and completed its IPO and was admitted to London's AIM market in May 2006.

Headquartered in London, EIIB is a fully Sharia'a compliant investment bank that provides products and services in the following areas:

- Private Equity and Corporate Advisory

- Treasury and Capital Markets 

- Asset Management

- Real Estate

- Structured Trade Finance

- Structured Products

- Sharia'a Advisory

EIIB services a market for sharia'a compliant investment banking services in Europe, the Middle East and Asia. Sharia'a compliant banking is generally regarded as one of the fastest growing sectors in the financial services industry. 

The shareholders of EIIB include Gulf and European based individuals and institutions.