Ithmaar Bank’s Private Banking Division consists of a 13-member team of
private bankers, including 5 senior managers with broad expertise in various
industries and a focus on the GCC, Middle East and North Africa & South Asia
(MENASA). The Division serves high net worth individuals, family investment
offices, corporate entities and Financial Institutions situated in those
regions. The Division the provides personalised and private banking
services, financial advice, and investment services for high net worth
clients and institutions through a close understanding of clients’ needs and
an ability to meet these needs proactively.
Private Banking offers Shari’a compliant global private banking products and
client-focused banking services. Its product range includes real estate
investments, mutual funds, structured products and private equity investments.
The Division has successfully led several private placements, including, most
recently, the US$185 million Dilmunia Health Island Real Estate Fund and First
Leasing Bank’s capital increase of US$100 million.
Private Banking
co-ordinates its wealth management and placement activities with other members
of the Ithmaar banking group, including Shamil Bank, Faisal Private Bank
(Switzerland) SA and Ithmaar Development Company. The Division also works with
other major business groups in the regions in identifying mutual investment
opportunities. The Division has developed a network of strategic partners in the
region, including leading financial institutions and prominent business groups,
which have enabled it to expand its investment and private equity business.