Noor to buy in Europe, Asia
19 November, 2007Dubai's Noor Islamic Bank, which is 50% owned by the Dubai government, is planning to acquire banks in Europe and Asia next year, reported Reuters. The bank has a capital of $1.1bn and will become the UAE's fifth shariah compliant lender when it commences operations on January 2. CEO Hussain Al Qemzi said Noor would use its capital to make initial purchases, while it could sell shares within three years.
Source: http://www.ameinfo.com
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