Bahrain's Bank Alkhair gets nod to sell stake in Pakistan's Burj Bank

Bahrain-based Bank Alkhair stated on Wednesday it had won approval from the State Bank of Pakistan to sell its stake in Pakistan’s Burj Bank to a subsidiary of Bahrain’s Al Baraka Banking Workforce.

Al Baraka, one of the crucial Gulf’s most sensible Islamic banks, had stated in September that its Pakistani unit, Al Baraka Pakistan, would merge with Burj Bank to create an establishment with belongings totalling greater than $1.1 billion.

Bank Alkhair is an Islamic financial institution with a presence in Bahrain, Saudi Arabia, Dubai, Malaysia and Turkey.

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