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Huge mandate for planned new Islamic bank

Posted on 11 April 2012

Gulf institutions plan to spur development of the Islamic finance industry by setting up a bank that would boost liquidity in sharia-compliant markets. But the mandate of the bank is so wide that it may struggle to have an impact early on.
The Islamic Development Bank (IDB), a Jeddah-based multilateral institution, signed a memorandum of understanding with the Qatari government and Saudi Arabia’s Dallah Albaraka Group on Tuesday to launch an Islamic bank based in Doha………………………………………..Full Article: Source

 
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