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More Gulf banks to turn ‘Islamic’ to meet demand

Posted on 26 April 2010

From Indiatimes.com: More banks in the Gulf Arab region may convert to Islamic finance in a bid to tap rising demand for sharia-compliant products and to avoid the heavy investment required to launch new banks.

A source told Reuters this month that Qatari investors are planning to buy a 25% stake in Ahli United Bank from Kuwaiti investors and have plans to convert Bahrain’s largest retail bank, which itself plans to take its Kuwaiti unit Islamic…………………………………..Full Article: Source

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


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