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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Barhrain’s Ithmaar Bank gets nod for merger

Posted on 23 October 2012

Islamic retail bank Ithmaar Bank announced that it will merge with one of its Bahrain-based associates, First Leasing Bank. The announcement, which follows the approval of the shareholders of both banks during separate Extraordinary General Meetings, is subject to final regulatory and legal approvals.
Ithmaar Bank Board Member Khalid Abdulla-Janahi, who chaired the Ithmaar Bank EGM, said the merger is in line with the bank’s commitment to concentrating on further developing its core business and continuing its growth………………………………………..Full Article: Source

 
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