Monday 20, April 2009 by
Bahrain-based Islamic bank to be called Al-Istikhlaf or Al-Emaar
The new $10 billion institution will be listed on the Bahrain Stock Exchange and NASDAQ Dubai via an initial public offering. Describing what he called “the godfather of Islamic banks," Yousif said the bank "will be established with a $10 billion capital and right now we are at a stage of forming the shareholders, there will be a private placement of $6.5 billion and we plan a $3.5 billion initial public offering for the bank."
