Islamic Finance: Kuwait’s Noor to hike stake in Meezan Bank

Islamic Finance: Kuwait’s Noor to hike stake in Meezan Bank

Kuwait’s Noor Financial Investment Co plans to raise its stake in Pakistani Islamic lender Meezan Bank to 42 percent from 35 percent, its managing director said on Monday.

“It’s approximately … $20 million,” Naser al-Marri told Reuters when asked about the cost of the purchase, adding the move would require the approval of Pakistan’s central bank.

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