The Saudi-based Islamic Development Bank (IDB), Dallah Albaraka Group of Saudi Arabia and Qatar Islamic Bank have signed an agreement to launch a new Islamic bank in Doha with a proposed capital of $1 billion. The three founders have subscribed to $500 million half of the new bank’s capital.
Sudanese President Omar Al-Bashir attended the signing by Qatar Islamic Bank, Islamic Development Bank and Dallah Albaraka Group at the IDB’s annual meeting in Khartoum. The new institutions will be based in Doha and will help finance infrastructure projects………………………………………..Full Article: Source