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Keyword: megabank

Islamic megabank to launch in 6-12 months

02/20/2010 4:58:41 AM PST · by TigerLikesRooster · 13 replies · 333+ views
Reuters ^ | 02/18/10

Islamic megabank to launch in 6-12 months Thu, Feb 18 2010 MANAMA (Reuters) - The creation of a planned Islamic investment megabank is in "fairly advanced stages" and it will likely be launched in the next six to 12 months, an executive at a firm advising on the project said on Thursday. A plan to form the world's largest sharia-compliant lender -- which is being promoted by the chairman of Al Baraka Banking Group Sheikh Saleh Abdulla Kamel -- has been in the works for some years. Sheikh Saleh said last April the global financial crisis had delayed the project,...

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