ID :
53293
Wed, 04/01/2009 - 11:52
Auther :
Shortlink :
https://oananews.org//node/53293
The shortlink copeid
BANKING GROUP EYES MEGA ISLAMIC BANK LAUNCH IN 2009
DUBAI, April 1 (Bernama) -- Al Baraka Banking Group chairman Sheikh Saleh Kamel is heading an alliance to launch what is expected to be the world's biggest Islamic bank before the end of this year, with an initial public offering of US$3 billion.
This was disclosed by Al Baraka chief executive officer Adnan Youssef in an
interview with CNBC Arabiya.
In remarks made available here, Adnan was quoted as saying the
necessary research for launching the Islamic bank had been completed.
"There are currently discussions between Sheikh Saleh Kamel and investors
to prepare for the public offering," said Adnan, who is chairman of the Union
of Arab Banks.
Announced last year, the "mega bank" will have an initial capital of US$10
billion through a number of initial public offerings and private stock options.
-- BERNAMA
This was disclosed by Al Baraka chief executive officer Adnan Youssef in an
interview with CNBC Arabiya.
In remarks made available here, Adnan was quoted as saying the
necessary research for launching the Islamic bank had been completed.
"There are currently discussions between Sheikh Saleh Kamel and investors
to prepare for the public offering," said Adnan, who is chairman of the Union
of Arab Banks.
Announced last year, the "mega bank" will have an initial capital of US$10
billion through a number of initial public offerings and private stock options.
-- BERNAMA
