The Islamic investment bank had reported a return to profitability in 2012, posting gains of
IIB's operating profit for last year was
IIB's Capital Adequacy Ratio continues to be strong in 2013 at 48.6 per cent, which is four times the minimum 12 per cent required by the
"Last year saw the bank continue to enhance the quality of its investment portfolio and a new deal of
"This promising deal has a total enterprise value of approximately
"The new investment will provide attractive quarterly distributions and an opportunity for capital appreciation over the five year holding period," he added.
IIB chief executive and board member Aabed Al Zeera said despite the moderate, yet positive, growth in the global economy last year, its investment strategy continued to remain cautious.
"Our strict criteria for investments ensures that we offer our investors only the most selective of offerings.
"Last year, IIB increased its shareholding in two existing investments, these were in an affordable housing development of approximately one million sqm strategically located north of
IIB maintains a diverse portfolio of global investments covering different regions such as the GCC,
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