VOL. XLV
No 25
24-June-2002
UAE
National Bank of Sharjah To Become An Islamic Bank
The Kuwait InvestmentHouse has announced that the National Bank of Sharjah(in which it holds a 20% stake), is to be converted into an Islamic bank. Thedecision was taken in March and the necessary changes are being made for fullconversion of the bank to take place in July. A committee has been set up tooversee the transformation, to study the various Islamic banking products whichwill be used, to consider...
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