NO. 32


Financial and Banking News

Regional Banking

Two Islamic Finance Groups Hope for Saudi Banking Licenses

Bahrain-based Faysal Islamic Bank, part of the worldwide Dar al-Mal al-Islami(DMI) group, hopes to receive a Saudi banking license by the end of the year.Prince Muhammad al-Faisal, DMI's founder said in early March the he had beentold verbally that a license would be issued, and that he was waiting for thewritten approval. The Prince made his remarks during a lecture...