Amanah Raya plans Kazakhstan Islamic bank in 2012

Malaysian trustee firm Amanah Raya Bhd expects to obtain licences to set up Kazakhstan’s second Islamic bank in the second quarter of 2011 and begin operating the lender within a year.
Amanah Raya would have a 55 per cent stake in the joint venture company to be set up, state-run Development Bank of Kazakhstan will own 40 per cent and brokerage Fattah Finance the balance.

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