The Treasury team is responsible for managing EIIB’s balance sheet risks in accordance with UK Financial Services Authority guidelines and Sharia’a principles. Risks include foreign exchange, profit rate, commodity, equity and liquidity. In addition, the unit provides a range of products and services to its customer base including equity execution, foreign exchange spot and Islamic forwards, Commodity Murabaha, Reverse Commodity Murabaha, Wakala Acceptances and Placements. The counterparty and client base is diverse and includes institutions, corporations, HNWI’s and private banking clients based in Europe and the Middle East. Leveraging off our in-house structuring capability, we are able to offer clients vanilla and tailor made structured solutions. EIIB is the first UK based institution to offer Wakala Acceptances thereby enabling it to offer more competitive deposit rates net of commodity costs.
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