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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Bahrain’s Al Baraka to enter Saudi through buyout

Posted on 25 August 2010

From Arabianbusiness.com: Bahrain’s Islamic lender Al Baraka said on Tuesday it planned to enter the Saudi Arabian market through an acquisition of an Islamic investment company there, valued at around 300 million Saudi riyals ($80m).

“The group is in the process of obtaining approval from Saudi authorities to enter the kingdom this year through acquiring one of the companies operating in the Saudi market,” the lender said in a statement on the bourse website…………………………………….Full Article: Source

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