| Albaraka Banking Group and Qatar Islamic Bank aim to acquire Sharia-compliant lenders in Indonesia as the central bank estimates the nation's Islamic assets will increase by as much as 55 per cent this year.
Albaraka, Bahrain's biggest publicly traded bank, plans to spend $100 million on an acquisition, Chief Executive Officer Adnan Ahmad Yousuf said in a March 28 interview in Istanbul. Asian Finance Bank Bhd, Qatar Islamic's Malaysian business, has identified two or three lenders, while Standard Chartered Saadiq plans to open more branches at its Indonesian joint venture, according to the CEOs of the companies............................................Full Article: Source |