EEMEA round-up: Bank watch - UK
The European Islamic Investment Bank has appointed Daniel Marx as head of treasury and capital markets. Marx joins from Absa Bank in London, where he was most recently treasurer. The EIIB was incorporated in the UK in January 2005, with the objective of becoming the first independent Islamic investment bank established and managed on an entirely Shariah-compliant basis to be regulated by the Financial Services Authority. The bank plans to become operational within the first half of this year, offering Islamic treasury and capital markets services, asset management including private banking, trade finance and correspondent banking provision, and advisory services.