The European Islamic Investment Bank (EIIB), which offers Shariah-compliant financial products, plans to raise up to $600 million through five new funds. The funds will be targeted at high net worth individuals in the Middle East, North Africa and Europe. Individual investors must have assets over $1 million. “Middle Eastern investors have been very focused on local real estate markets and local equity markets. Our funds provide geographic diversification,” said John Weguelin, managing director of EIIB. EIIB is also advising the British government in exploring the Islamic bond market, the sukuk.