The giant Saudi Dallah Albaraka Group and the Kuwaiti International Investor Company agreed to combine their banking assets, reaching a total of $313 million, reported Al-Rai. The amalgamation creates the largest Islamic banking entity in the Middle East.
Both parties agreed to transfer shares out of their financial units into the new entity, which is referred to as the Albaraka-International Investor. — (menareport.com)
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