Tagged: European Islamic Investment Bank

European Islamic Investment Bank: Ex-Bank – Love It!

European Islamic Investment Bank: Ex-Bank – Love It!

European Islamic Investment Bank (EIIB) is an Islamic finance institution which operates in accordance with Sharia’a law, and bridges the gap between the financial markets of the West/OECD & the Middle East & North Africa (MENA) region. EIIB evolved into an investment company which invests in bonds/loans on a relatively un-leveraged basis and a mixed bag of private equity (PE) investments. A strategic review was also completed, which confirmed EIIB’s new focus on building recurring revenue streams, primarily within the Asset Management business. With further head-count reductions & cost control to come, plus geographical & functional integration savings to be captured, EIIB’s losses will be eliminated in due course.

European Islamic Investment Bank to cut jobs

European Islamic Investment Bank to cut jobs

It seems that European Islamic Investment Bank will cut dozens of jobs and will close a representative office in Bahrain as part of a restructuring.
The number of employees will be reduced to 17 from 35.
EIIB Chairman Shabir Randeree stated that the ba…