Manama: Bahrain-based Bank Alkhair, an Islamic wholesale bank, has received approval from the State Bank of Pakistan to sell its stake in Burj Bank to Al Baraka Pakistan (ABPL), a subsidiary of Al Baraka Banking Group.
This follows September’s announcement of the shareholders’ approval of the merger of Pakistan’s Burj Bank and ABPL, creating an institution with assets totalling more than $1 .
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