Fri, Mar 6, 2015
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Banking, Market Moves more

Masraf Al Rayan seeks UK foothold with bank buy

Posted on 14 June 2012

Masraf Al Rayan’s plan to take over a loss-making bank in the UK will provide Qatar’s biggest publicly traded Islamic lender a foothold in Europe’s largest market for Shariah-compliant financial products and services.
Masraf Al Rayan, which also offers Islamic banking in Oman and Saudi Arabia through affiliates, plans to acquire 70% of Birmingham-based Islamic Bank of Britain, while the Qatari government will buy the remaining 30%, the bank said on June 4. Qatar International Islamic Bank (QIIB), which owns 84% of the bank known as IBB, plans to buy shares it doesn’t own before selling the entire stake, the British lender said June 6………………………………………..Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
banner
March 2015
M T W T F S S
« May    
 1
2345678
9101112131415
16171819202122
23242526272829
3031