VOL. XLIII

No. 28

10-July-2000

BAHRAIN

Faysal Islamic Bank Announces Merger

Faysal Islamic Bank and the Islamic Investment Company of the Gulf, both based in Bahrain, announced on 23 June that they had merged their operations to "take on a new identity and consolidate their joint financial base." In a press statement, the new entity, Shamil Bank of Bahrain, said that it will hold total assets of $2.8bn and more than $230mn in equity. The chairman-designate of Shamil Bank, Prince Muhammad...