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21 Jul 2008 07:00
European Islamic Investment Bank plc
21 July 2008
EIIB to form strategic partnership with Robeco Groep
European Islamic Investment Bank plc ("EIIB") announces that it has signed 'Heads of Terms' with Robeco Groep NV to form a partnership to develop a range of Sharia'a compliant wealth or asset management products.
It is anticipated that a partnership agreement will soon be finalised with the first products available in early 2009.
EIIB will make a further announcement on the terms of the agreement at the appropriate time.
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 Mobile: +(0)7958 451 446
Riz Issa
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.
About Robeco:
Robeco, established in Rotterdam in 1929, offers investment products and services to institutional and private investors worldwide. It has EUR 146 billion in assets under management (at 31 December 2007).
The product range encompasses equity and fixed-income investments, money-market and real-estate funds and alternative investments, including private equity, hedge funds and structured products. The various strategies are managed from Rotterdam (head office), Boston, Hong Kong, New York and Paris.
To service institutional clients and distribution partners, Robeco has offices in Bahrain, Belgium, China, France, Germany, Japan, Luxembourg, Poland, Spain, Switzerland and the United States. Robeco has a bank license in France and the Netherlands, where it can sell its products straight to private clients.
Robeco holds a 100% interest in Corestone (Zug, Switzerland), Harbor Capital Advisors (Chicago, US) and Transtrend (Rotterdam, the Netherlands). Robeco further holds an interest of 64% in SAM Group (Zurich, Switzerland), a 49% interest in Canara Robeco Asset Management (Mumbai, India) and a 40% interest in AIM (Rijmenam, Belgium).
Robeco is part of Rabobank Group, one of the few retail banks with the highest credit ratings from Moody's and Standard & Poor's. Furthermore, within the banking sector, Rabobank has the highest sustainability cluster score, which is used to assess an organization's people and environmental friendliness.
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