VOL.XXXIXNo. 6416-December-1996BAHRAIN

NewcomersEnter Islamic Banking The news that the Bahrain MonetaryAgency (BMA) has licensed a new Islamic bank, First IslamicInvestment Bank, means that the Islamic banking industry in the Arabworld is seeing a rush of new entrants. First Islamic will join a number ofmajor conventional banks which have established, or which areshortly to establish, dedicated Islamic banking subsidiaries in theregion. These include in Bahrain, Citi Islamic, the...