Dubai plans to have world's largest Islamic bank

Dubai plans to have world's largest Islamic bank
Tags: Bank / Credit Union, Middle East & Africa, North America, Other, Trends / Statistics
January 7, 2008

Reuters: Dubai plans to create the world's largest Islamic bank within five years, spending as much as $1 billion on individual acquisitions in countries as far apart as Indonesia, Egypt and Britain. Noor Islamic Bank, which is 25-percent owned by the government of Dubai and 25 percent by the emirate's ruler, plans to spend between $500 million and $1 billion each time on a "few" acquisitions in Europe, Asia and North Africa.