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27/04/2016 13:19 AST
Rasmala, an independent investment management group, has posted a profit of £0.25 million ($363,500) for 2015 as compared to £0.6 million during the previous year, marking a fall of 58.3 per cent.
Operating income before tax stood at £0.5 million as against £1.5 million in 2014, while assets under management dropped to $1,072 million from $1,113 million.
Zak Hydari, chief executive of Rasmala said: "We are pleased to report a third consecutive year of profit in 2015. Despite the considerable macroeconomic volatility, we saw another year marked by strong performance of our flagship funds, the launch of new fund offerings and the expansion of our real estate capabilities and team. We also unified our Group under one name, Rasmala. We now operate under one brand and one vision across all our markets."
"We expect the market volatility to remain during 2016, however, we are confident that the robust foundations we have put in place across our Group will allow us to continue to grow our business into both new markets and new product lines," he added.
Trade Arabia
18/12/2013
The EIIB-Rasmala Group was named 'Best Islamic Bank in Europe at the Islamic Business & Finance Awards 2013.
Zak Hydari, Chief Executive of EIIB-Rasmala, said, "2013 has been another mile
CPI Financial
20/11/2013
The partial shutdown of the US governmental services ended on the 17 October and the US debt ceiling was raised at the 11th hour. Rasmala reports that both these factors were positive for debt market
CPI Financial
19/11/2013
Investment bank EIIB-Rasmala has broadened its product range with the launch of the Rasmala Trade Finance Fund. This follows a series of new fund launches in 2013, including the Rasmala Global Sukuk
CPI Financial
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Trade Arabia
Financial Information Co.
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