VOL. XXXI
NO. 38
27-JUNE-1988
Financial and Banking News
REGIONAL BANKING
Al Baraka Finally Succeeds in Buying Pyramids Bank
The Jiddah-based Al-Baraka Investment and Development Company, which isowned by Shaikh Salih Kamel and which is the holding company for the world-wideAl-Baraka group of Islamic banks, has finally succeeded in buying Egypt'scrippled Pyramids Bank. Al-Baraka first expressed its interest in PyramidsBank in 1985, two years after the bank was damaged by a scandal and put under...
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