Source : TODAY, Friday, September 14, 2007
The Islamic Bank of Asia has boosted its capital to US$500 million ($755 million) from the current US$418 million.
With the capital increase, DBS Group Holdings now owns 50 per cent of the bank, down from 60 per cent previously.
DBS contributed US$250 million out of the first capital injection into the Islamic bank.
With the second closing, 12 investors have joined the current 22 Gulf-based families and companies that invested in the bank.
The Islamic Bank conducts its business according to Shariah, or Islamic law, and is seeking to establish itself as a bank that can bridge the needs of Asia and Gulfbased investors and borrowers.
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