VOL. XLIV

No. 23

4-June-2001

GENERAL

ABC Islamic Bank To Introduce First Islamic Credit Card

ABC Islamic Bank announced on 29 May that it is introducing a new product offering, the first of its kind, in the form of an Islamic Credit Card Company. In a statement, the bank said that it would establish an Islamic Credit Card Company with a variable capital in the near future. The company will issue two categories of capital comprising the authorized capital of management shares (Class A) of $5mn and...