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Sun 3 Jun 2007 12:00 AM

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Emirates’ Kazakh bank bid

Emirates Bank and Kazakhstan's Bank TuranAlem have agreed to set up an Islamic bank in Kazakhstan, according to an Emirates Bank official.

Emirates Bank and Kazakhstan's Bank TuranAlem have agreed to set up an Islamic bank in Kazakhstan, according to an Emirates Bank official. The 50:50 joint venture will be the first financial institution in the CIS region to offer Sharia-compliant financial products, according to the bank official.

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