Friday, September 22, 2006

Bahrain-based Al-Salam Bank looking to expand into Asia

"Bahrain's Al Salam Bank eyes Asian acquisition: exec", Gulf Times, September 22, 2006

The story quotes an executive at Al Salam Bank, Yousif Taqi, speaking to reporters in Malaysia as saying that "We are looking at some asset targets, but still we have to do due diligence". The Bahrain-based bank recently completed a US$111 million IPO. The bank has licenses to operate in Sudan and Algeria. Within the Middle East it plans to expand into Syria next, while India, Pakistan and Malaysia are likely destinations for the bank in Asia.

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