$321bn Islamic bank to launch
Saudi Arabia: Thursday, March 27 - 2008 at 10:45
The Chairman of Islamic banking group AlBaraka Banking has said that a new Islamic bank, with a market capitalisation of $321bn, will be operational by the end of this year. The Saudi businessman told Arab News that the banks initial market cap would be $11bn, against which it would raise another $110bn from funds and $200bn from sukuks.
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StaffThursday, March 27 - 2008 at 10:45 UAE local time (GMT+4)
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