Who are main shareholders of Rusd Bank, and what is its capital structure?
The bank has a capital of $50 million, and the shareholders are diversified. They include four Takaful companies; a number of large and rated Islamic financial institutions. The four major founder members are the UAE-based Arab Islamic Insurance Company, the oldest Islamic insurance company in the world, incorporated in 1979; the Bahrain-based Islamic Insurance and Re-insurance Company (IIRCO), which is a holding umbrella for many Takaful companies across the Muslim world; Best Re, the premier Re-takaful company in the world, assigned a BBB investment grade rating by Standard and Poor’s; and Bahrain-based IAC, which is also established in Saudi Arabia, and has been operating for 25 years. Q: I notice that Rusd Bank is incorporated in offshore Labuan. Does this mean that the bank will be trying to bridge the business and market gap between MENA and Southeast Asia? A: That is exactly our strategy, which has two anchors. The Malaysian anchor, which can advance with Malaysia as a base, a c
