EIIB is owned by various investors and companies in the Middle East and elsewhere. It has refused to reveal ownership details, although Weguelin said no single shareholder has a majority stake.
The bank plans a £200 million share offering in June as part of its move onto the London Alternative Investment Market. It will operate as a full-service investment bank, covering treasury and capital markets, asset management, trade finance and corporate finance. A branch in Bahrain is scheduled to open later this year.
Operating under sharia law, the bank will avoid interest-bearing investments. It will also avoid investments involving gambling and speculation.