IslamicFinance.de

New internship to analyze sector with over $270 billion in estimated assets

Riyadh, 20 July 2012: Today a multinational group of companies dedicated to the Islamic banking industry announced the first nominee for the Islamic Banking & Finance internship, cosponsored by Bank of London & the Middle East (www.blme.com) in London, Wafi International in Riyadh (www.waficorp.com) and Safa Investment Services (www.safainvest.com) in Geneva and Riyadh.

Thomas R. Woods, graduating end 2012 from Durham University (U.K.) with a Master’s degree in Islamic Finance, was chosen to serve for six months. Fluent in Arabic, Mr. Woods will focus first on global capital markets and professional asset management from the BLME offices in London, and then will conduct the first-ever study of historic investment returns at Islamic endowments (awqaf) at the Safa offices in Riyadh. Wafi will supervise Mr. Woods’ work in Saudi Arabia.

An industrial property fund aimed at institutional investors adressed to institutional investors was started by Bank of London & the Middle East.
The name of the fund is Light Industrial Building Fund and targets a cash on cash yield of 8%.