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Islamic Finance Briefing - Categorized | Banking, Investment, Market Moves more

Shariah ‘megabank plan’ seeks to raise $1bln capital

Posted on 16 May 2012

Ahmad Mohamed Ali The Islamic Development Bank is seeking partners to bring investment in a Shariah-compliant megabank to more than $1bn before the opening this year, allowing it to finance larger construction projects.
The financial institution, to be established with Riyadh-based Dallah Albaraka Group and the Qatari government, will issue securities that Islamic lenders can buy to manage excess funds, IDB president Ahmad Mohamed Ali said……………………………………….Full Article: Source

 
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