Middle East Economic Survey

VOL. L

No 52

24-December-2007

syria

Al-Barakah Group To Establish Islamic Bank In Syria

Al-Barakah Group of Bahrain plans to open in the first quarter of 2008 an Islamic bank in Syria, the groups executive director 'Adnan Yusuf told al-Hayat newspaper. The new institution Syria Al-Baraka Bank - will be capitalized at $100mn, with 49% of the share capital held by al-Baraka Group and the remainder offered for public subscription in Syria. Al-Barakah Group is capitalized...