VOL.XXXVIII

NO.28

10-April-1995

RegionalBanking

...AsCitibank Moves Towards Founding An Islamic Bank In Bahrain

Citibankappears to have overcome objections from the Federal Reserve to its opening anIslamic Bank in Bahrain. MEES understands that the bank still has some way to gobefore it will be able to open an Islamic bank, but that the Federal Reserve'sobjections were the principal obstacle to the project. The Federal Reserve hasin the past been unenthusiastic about Islamic banking, but has not...