Companies' move creates BMB Islamic

Sharia consulting and product design team Dar Al Istithimar, a majority-held subsidiary of Deutsche Bank, has been absorbed by the BMB Group to create BMB Islamic, a full service, Islamic-focused product design and placement institution. The BMB Group, whose holding company is an offshore company in Brunei, is an Islamic asset management and financial advisory firm with growing operations in the GCC, Europe and Asia. It is estimated that the Dar Al Istithimar team has advised in the set up of over $20 billion in product volume.