Takeover deadline extended for Islamic Bank of Britain
The deadline for Qatari lender Masraf Al Rayan to come up with an offer for Islamic Bank of Britain (IBB) concerning its takeover has been extended. It initially lapsed on December 10th and was now extended to January 7th. IBB is majority-owned by Qatar International Islamic Bank. The latter has been discussing selling a controlling stake in the British bank with Masraf Al Rayan since June 2012.
According to a statement by IBB, its lending growth for the first nine months of 2012 have been driven by two new home financing plans. Furthermore, the bank will search for ways to offer more products.