Monday 14, April 2008 by

Shamil Bank meets the US$ 90 million target for the Shamil Bosphorus Modaraba

Shamil Bank, a leading Bahrain-based Islamic commercial and investment bank and a wholly-owned subsidiary of Ithmaar Bank, today announced that it has successfully met the US$ 90 million target for the Shamil Bosphorus Modaraba, a Sharia’a compliant Modaraba. The Modaraba will invest in the lucrative Turkish real estate market. A 60 per cent projected return on investment is expected over the three-year investment term of the Modaraba.

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