Islamic Banking

Deutsche Bank Subsidiary Loses Shariah Team

Lachlan Colquhoun Asia Pacfic Editor Sydney 26 June 2007


Deutsche Bank’s entire Shariah finance and investment team has left the bank to join BMB Group, the Brunei-based Islamic asset management provider.

The Deutsche team was centred in a bank subsidiary called Dar Al Istithmar and is led by Islamic economist Dr Humayon Dar. It is estimated the team advised in the set up of over $20 billion in product volume.

BMB is an Islamic asset management and advisory firm with growing operations in the Gulf States, Europe and Asia. It is currently engaged in a $5 billion deployment in the alternative asset management spectrum.

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