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

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

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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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