No 25



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...