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Saudi bank buys 10pct stake in Sri Lanka’s first Islamic bank

Posted on 10 February 2011

From Sundaytimes.lk: The Jeddah-based Islamic Development Bank (IDB) has taken a 10-percent stake in the first commercial Islamic bank in Sri Lanka, which is to be opened shortly in the island, a senior official from the Amana Bank Limited in Colombo told Saudi Arabian newspaper Arab News.
Amana Bank Limited, which obtained the provisional approval license from the central bank last year to become a bank, has got the green light from the island’s Finance Ministry to operate as a commercial bank in the country……………………………………….Full Article: Source

 
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