Ex-CEO of Al-Tawfeek Company for Investment Funds and Al-Amin Bank Saleh Malaikah has announced the launch of a new bank registered as an offshore Shari'a compliant institution in Labuan, Malaysia.
Malaikah, chairman of the new Rusd Investment Bank, was the CEO of Saudi-based Al-Baraka Investment & Development, which represents the financial services sector of the Dallah Al-Baraka Group, comprising over 40 banks and financial companies. Malaikah was chairman of a number of these financial institutions.
"Rusd Bank is the first Malaysian offshore bank with extensive Middle East relationships, especially in the GCC and North Africa countries", Malaikah said. "These relationships", he added, "enable the bank to arrange investments in wide geographical area." — (menareport.com)
© 2004 Mena Report (www.menareport.com)
