Complex Made Simple

Rasmala ends private equity fund

Dubai investment bank Rasmala has withdrawn its private equity fund as part of its restructuring efforts, The National has reported. "We felt in this private equity fund investors had less of an appetite but we have completed a very extensive restructuring," Ali al Shihabi, the founder and chairman of the bank said. The Islamic fund was launched in 2010 and targeted investment of $300m (Dhs1.1bn).