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 Ithmaar 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.