Bahraini Banking Hub Attracts Foreign Players

May 2008 | Corporate Financing News Alert

Yemen's Tadamon Islamic Bank (TIB) has received a licence to set up international banking operations in Bahrain. The company has created a subsidiary, Tadamon Capital Bank, which was one of several Arab and foreign banks recently granted licences to operate in the Gulf kingdom by Bahrain's central bank. The size of the new venture has not been disclosed, but TIB itself has capital of around US$50mn, making it the largest Islamic bank in Yemen.

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