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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds), Investment more

Lender Al Baraka eyes 75pct stake in Indonesian bank

Posted on 05 March 2012

Al Baraka Banking Group BSC, a Bahraini Islamic lender, is seeking to buy about 75 percent of an Indonesian bank before the end of this year, Chief Executive Officer Adnan Yousif said.
Al Baraka is in talks with the Chinese shareholders of the non-Shariah compliant bank and expects to invest as much as $100 million in the deal, Manama-based Yousif said in a phone interview today. He declined to provide the bank’s name. “We would like to do it before the end of the year,” he said. Al Baraka will “inject new capital and turn it into an Islamic bank.”……………………………………….Full Article: Source

 
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