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Dubai - Agencies
, said a source familiar with the Gulf investors are planning to establish the first Islamic bank integrated in the euro zone in the fourth quarter of 2014, and will be based in Luxembourg.
said chairman Xslancia Investment Management Ammar wasp that these investors are seeking to launch an Islamic bank under the name "Joris. Bank ", with a capital of the initial 60 million euros.
will provide the bank services retail banking products and companies and products and will open branches in Paris and Brussels, the Netherlands and Frankfurt.
added wasp in a press statement that the ownership of the bank will take part in the Bank of the Gulf and other investors from the private sector refused to name them, explaining that the company Xslancia, specializing in Islamic fund management, based in Luxembourg, has contracted with Deloitte Consulting to complete the procedures for the establishment of the bank.
Meanwhile, a senior official said in the "Crescent Wealth" Australian fund management that the company plans to launch an Islamic fund to invest in commercial real estate next year as part of an effort to expand its product base.
said Managing Director Talal Yassin "were in talks to launch a large fund capital between 300 million and one billion Australian dollars," ie, between 275 and 920 million dollars. He added that the return on investment fund would be between 7 and 12 percent.
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