IIB exits aircraft investment

International Investment Bank ( IIB), an Islamic wholesale investment bank based in Bahrain, announced a successful exit from its investment in an Airbus wide-body aircraft leased to a European airline, which generated an IRR of 18 per cent. The Bank, which is owned by major investors from across the GCC, also announced the opening of Swissotel Sarajevo.

The hotel is part of the Sarajevo City Center (SCC) development, a state-of-the-art mixeduse real estate complex in the capital of Bosnia and Herzegovina comprising a mall, office tower and a 5-star branded hotel. The hotel has 21 floors and 218 rooms, 40 of which are apartments, with spacious rooms that offer a panoramic view of the city and surrounding mountains.

IIB Chairman Saeed Abdul Jalil Al Faheem said: “We are in the process of recalibrating our strategy to ensure investor and shareholder value is enhanced. The launch of Swissotel Sarajevo and the Airbus exit are both in line with this strategy.”