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Islamic Finance Briefing - Categorized | Banking, New Launches more

Qatar, Dallah, IDB to set up $11bln Islamic bank in Doha

Posted on 10 May 2012

Qatar’s government, the Islamic Development Bank and a subsidiary of the Saudi Arabia’s Dallah Albaraka Group in Sudan have agreed to set up an $11bn Islamic bank that will be based in Doha, Arab News reported, citing Saudi Arabian billionaire businessman Saleh Kamel, chairman and founder of the Dallah Albaraka Group
Kamel will contribute $300m to the venture, and Dallah Albaraka Group which has interests in Islamic banking and financial services, real estate, construction, media and manufacturing will put in $100m, the businessman who also chairs Jeddah’s Chamber of Commerce told the daily. IDB will also contribute $100m………………………………………..Full Article: Source

 
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