Faisal Private Bank, struggling since the collapse of property schemes in the Gulf and beyond, is up for sale after failing to raise enough money to meet the Swiss regulator’s minimum capital requirements, its chief executive said on Thursday.
Chief Executive Mark Koch told Reuters the Geneva-based bank, which called itself the first Islamic private bank, is talking to three potential suitors. Faisal’s parent, Bahrain-based Ithmaar Bank ITHMR.BH, will be selling part or all of its stake, he said………………………………………..Full Article: Source