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Article: The wings and the spear: Unicorn Investment Bank, the world's first full-service Islamic investment house, launched with little fanfare last year. Managing director and CEO Majid al-Refai talks to Clare Dunkley about the institution's ambitious plans.(BRIEFING: UNICORN INVESTMENT BANK)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- June 24, 2005
- Author:
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Few investment banks have websites detailing the history of thoroughbred horses. The site of recently created Unicorn Investment Bank (UIB) is an exception, helpfully informing visitors that all such animals are descended from three lines of Arabian stallions, brought to Europe from the Middle East in the seventeenth century. Customers of the debut full-service international Islamic bank seeking sharia-compliant finance are set to become increasingly familiar with the mythical beasts.
Bahrain-based UIB launched operations in May 2004, having been granted a licence by the Bahrain Monetary Agency (BMA--central bank) at the turn of the year. Capitalised at $111 ...