WORLD - BANKING - Shariah ‘megabank plan’ seeks to raise $1bn capital

www.gulf-times.com - The Islamic Development
Bank is seeking partners to bring investment in a Shariah-compliant
megabank to more than $1bn before the opening this year, allowing it to
finance larger construction projects.
The financial institution, to be established with Riyadh-based Dallah
Albaraka Group and the Qatari government, will issue securities that
Islamic lenders can buy to