NTB of Sri Lanka Attacts Middle East Interest, Heraymila Investments Ltd (HIL) in Dubai’s International Financial Centre Bought a Major Stake

18th November 2009, www.thebottomline.lk, By Azhar Razak

Heraymila Investments Ltd (HIL), a licensed entity based in Dubai’s International Financial Centre has recently bought a major stake of Sri Lanka’s upcoming commercial bank, Nations Trust Bank. HIL has acquired 2 million ordinary shares, nearly 1.19 percent of the bank’s total shareholding, NTB’s recent interim financials showed.

“I believe the acquisition could have been the decision of the head of HIL, who is already a major shareholder of NTB,” NTB Chief Executive Officer (CEO), Saliya G Rajakaruna told the TBL.

Abdulaziz M. A. Al Mashal, the CEO of HIL presently holds a major 2.52% stake of NTB while his company, HIL also holds some of his other investments in international private & public equity and debt, real estate, aircraft leasing and structured products.
Meanwhile, Mashal is also among the list of twenty largest shareholders of Commercial Bank of Ceylon representing a stake of a little over 3% of shareholding and has a minor stake at John Keells Holdings.

Mashal, who hails from a prominent family in Saudi Arabia has a track record in private wealth management, strategic planning, risk management, investment banking, international equity markets, Islamic finance, project financing and venture capital.