CBB Approved the Conversion of IIB to Ajyad Capital B.S.C. (c)
International Investment Bank (IIB) converted its license from a Wholesale Bank to a category 1 Investment Firm with the approval of the Central Bank of Bahrain (CBB). The new license, under the new name Ajyad Capital B.S.C. (c) and a new brand shall continue to be supervised by the CBB.
Under the new management, in 2019, IIB worked closely alongside the board of directors to define the new direction for the bank and its related activities. Accordingly, based on detailed market and financial industry analysis, the board of directors and the shareholders expressed their support and approved the conversion to an investment firm.
The firm believes that this conversion is in line with current CBB requirements for wholesale banking and investment firm regulations, and better placed to serve its regional clients and enhance shareholder value in a manner similar to other asset managers. Additionally, the conversion conforms with the investment strategy adopted by Ajyad Capital to focus on alternative investment in real estate and private equity.