EIIB proposes to utilise Sharia’a compliant techniques to structure and distribute investment products, in the UK, Europe, the Middle East and Asia, either directly where feasible or through intermediaries such as banks, insurance companies and authorised intermediaries. These products would also be available to private banking customers.

The range of Sharia’a compliant investment products would include the following, although these would be offered over a period of time, and subject to market testing:

• UK, European, GCC and Global Equity Funds;
• Leasing funds, based upon equipment leasing, large assets, property, and other fixed assets that generate income;
• Property Investment Funds;
• Structured Product Funds, such as capital protected equity or income funds;
• Hedge Funds;.
• Venture Capital and Private Equity;
• Pension Products; and
• Life insurance products through Takaful companies (Islamic insurance companies), subject to due diligence and regulatory approval.

The clients’ investment funds are expected to be mostly managed in-house, except where specialised fund management skills (such as Islamic hedge funds) would require utilising an external portfolio manager. EIIB will also work with other financial institutions, both Islamic and conventional, to create "white-label" Sharia’a compliant investment products in response to specific demand.

Private Banking

EIIB will initially provide a premium private banking service to high net worth individuals with a minimum of £250,000 or currency equivalent available for investment. These clients would be sourced in the UK, across the rest of Europe, the Middle East and Asia.

EIIB will offer direct Islamic deposit facilities through Wakala or LME Murabaha transactions for deposits of at least £250,000 or currency equivalent, and would offer clients foreign exchange, investment products and potentially equity trading services, subject to further cost-benefit evaluation of the latter.