Wednesday 04, April 2012 by Robin AmlĂ´t

Three-way deal for new Islamic bank in Doha

The Saudi-based Islamic Development Bank (IDB), Dallah Albaraka Group of Saudi Arabia and Qatar Islamic Bank have signed an agreement to launch a new Islamic bank in Doha with a proposed capital of $1 billion. The three founders have subscribed to $500 million half of the new bank's capital.