Middle East Economic Survey

VOL. XLVII

No 43

25-October-2004

REGIONAL BANKING

Malaysia Awards Two Islamic Banking Licenses

Malaysias central bank, Bank Negara, said in a statement on 14 October that it had awarded two Islamic banking licenses to Middle Eastern banks. One license went to Al Rajhi Banking and Investment, Saudi Arabias largest listed bank, and another to a consortium comprising Qatar Islamic Bank, RUSD Investment bank and Kuwaits Global Investment House. Kuwait Finance House was...