NO. 5


Financial and Banking News

Regional Banking

Al Baraka Announces Plan to Open Islamic Development Bank in Kazakhstan

The Jiddah-based Islamic banking establishment Dallah al-Baraka announced on27 October that it has finalized plans to open a development bank in the SovietRepublic of Kazakhstan, the home of millions of Muslims. The deputyDirector-General of Al-Baraka Investment and Development Company, Mr. Yunis al-Tamimi,said the bank would have an authorized capital...