Thursday 15, May 2008 by Mike Gallagher

Blom breaks out

Blom Bank, which at the end of last year was the subject of rumours that it was going to be taken over by foreign investors, is planning to launch a number of Islamic funds in the near future. Vice chairman and general manager Saad Azhari, speaking exclusively to CPI Financial, said that the funds would start being marketed both inside and outside Lebanon within the next three months. He also said that the process of applying for a banking licence in Algeria was ongoing.

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