29.07.2011 - New Islamic development bank planned in Bahrain
The new development bank, founded under the auspices of the Organisation of Islamic Conference (OIC), is expected to be launched in the Kingdom of Bahrain next January with ultimate capital of $100 billion. The bank – Al-Emar Bank (the Construction Bank) – is expected to be launched formally during the OIC meeting in the State of Qatar December 2011. The plan was originally announced at the OIC meeting in Cairo. The bank will provide finance to private sector projects in the OIC’s 57 member countries..............................................Full Article: Source
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