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Article: Sixth Islamic bank gets licence in Pakistan

Article from:
The Hindustan Times
Article date:
May 23, 2006
Copyright

Islamabad, May 23 -- Pakistan Tuesday granted licence to First Dawood Islamic Bank Ltd, the country's sixth Islamic bank.

First Dawood Bank is co-owned by local partners and a consortium comprising Bank Islam Malaysia Berhad, Unicorn Investment Bank of Bahrain and a wing of the Islamic Development Bank.

"The SBP (State Bank of Pakistan) has issued the Islamic banking license to the First Dawood Bank which will be the sixth full-fledged Islamic bank in the country," a spokesman for the SBP said.

The other Islamic banks in Pakistan are Meezan Bank Ltd, Al ...

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