28.09.2010 - Korea: Moves to establish a local Islamic bank face hurdles
From Joongang Daily: Korea is hoping to attract funds from oil-rich Middle East countries by setting up a local Islamic bank in the country, but the effort is still facing many challenges. The Islamic Bank Korea Organizing Committee was established in January 2009 under the auspices of the League of Arab States Chamber of Commerce in Korea. The group is being led by Rhee Dong-wook, a Muslim convert, and Lee Tong-ho, a former president of Korea Development Bank. Their plans call for opening an Islamic bank, tentatively called Al Amir Bank..............................................Full Article: Source
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