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Abu Dhabi $1.1bn Islamic bank
- United Arab Emirates: Tuesday, March 06 - 2007 at 06:40
Abu Dhabi is setting up an Islamic bank with authorised capital of $1.1bn, according to reports. Al Hilal Bank will offer retail and corporate banking services, including investing customers' funds in shariah-compliant financial instruments, according to the founders committee. The bank will be fully owned by the Abu Dhabi government.
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James McInerney, News EditorTuesday, March 06 - 2007 at 06:40 UAE local time (GMT+4)
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This article was updated on Thu Jun 21 2007.
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