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Pakistan urging Persian Gulf loans for farmers: Islamic finance

Posted on 23 September 2010

From Bloomberg: Pakistan’s central bank, seeking to double Islamic banking assets in three years, is urging lenders from the Persian Gulf to open branches in rural areas.
Albaraka Banking Group, the largest publicly traded Islamic lender in Bahrain, is increasing branches to 80 from 30, Kaleem Iqbal, a senior executive vice president at the local unit, said in a Sept. 21 interview in Islamabad. Meezan Bank, controlled by Kuwait’s Noor Financial Investment Co., is opening 25 outlets this year, said Amir Ali, head of investment banking in Karachi……………………………………….Full Article: Source

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