EIIB boosts stake in asset management unit

European Islamic Investment Bank (EIIB-Rasmala), one of the largest, independent financial institutions focused on GCC markets, said it has significantly increased its shareholding in its asset management subsidiary Rasmala Holdings from 56.8 to 76.3 per cent. London-headquartered EIIB-Rasmala, which boasts of client assets worth over $1.1 billion, said its primary…