Alkhair Bank acquired as Burj Bank sales after approval
The Burj Bank is a subsidiary of Bahrain’s Al Baraka Banking Group that has recently got Burj Bank sales. The sale is in the form of another bank that has received approval for selling from the SBP.
The State Bank of Pakistan has approved the Bahrain-based Bank Alkhair for selling its stake to Burj Bank on Wednesday. Al Baraka is among the top Gulf Islamic banks. It had announced back in September that its Pakistan unit will merge with Burj Bank. Thus, it will create assets of an over $1.1 billion institution.
Besides this Bank Alkhair has its presence in Bahrain, Turkey, Malaysia, Dubai, and Saudi Arabia.