Citi Islamic Investment Bank appoints new Chief Executive and Managing Director

Mr Nathani was previously co-head of Debt Capital Markets, responsible for Citigroup's loan syndication business in the Asia Pacific region.

Citigroup was recently named "Best International Market Sukuk House" by Euromoney magazine and this appointment comes at an exciting stage of CIIB's development particularly in the fields of sukuk (or bond) issuance and other forms of Shari'a compliant debt instruments.

Mr Nathani said: "I am delighted to be part of the Citi Islamic Investment Bank and to contribute to its growing franchise. The Bank has been globally known for innovation in the field of Islamic Banking ever since its inception. This position will be enhanced further in order to ensure Citigroup's leadership in the domain of Sharia'-compliant finance and investment solutions."

Mohammed Al-Shroogi, Citigroup Managing Director - Middle East and Chairman of the Citi Islamic Investment Bank, said: "Mohsin is a great addition to CIIB's team as the bank embarks on a strategic expansion across both product range and client base. We are proud to be a driving force behind the development of Islamic banking methods that meet the needs of diverse clientele worldwide."

In 2004, Citigroup was lead-manager and bookrunner on four out of five sukuk offerings including the Dubai Civil Aviation US$ 1 billion debut sukuk offering, the innovative Bahrain Monetary Agency (BMA) US$ 250 million issue, the pioneering Saxony-Anhalt Eur 100 million debut offering and the latest Government of Pakistan US$ 600 million Sukuk which closed in 2005.