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Islamic Finance Briefing - Categorized | Banking, Market Moves, New Launches more

Al-Hilal Bank close to Kazakhstan launch

Posted on 30 March 2010

From Businessneweurope.eu: The United Arab Emirates state-owned Al Hilal Bank is close to obtaining a banking licence to operate on the Kazakh market, its directors have confirmed. The first Islamic bank to set up in the Central Asian country, Al Hilal plans to invest $1bn over the next four years.

According to Prasad Abraham, chairman of the board of Al Hilal in Kazakhstan, the bank is “within the final few metres of the finish line” in receiving its licence, and this could happen by the end of March………………………………..Full Article: Source

 
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