European Islamic Investment Bank plc (“EIIB”) announced that it had 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.
The London-based EIIB was incorporated in January 2005 and received authorisation by the FSA in March 2006. In April 2006, EIIB opened for business, and in May 2006 completed its IPO and was admitted to London’s AIM market. In November 2006 EIIB opened a representative office in Bahrain.
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