KARACHI: Bahrain-based Al Baraka Islamic Bank BSC, a wholly owned subsidiary of Al Baraka Banking Group (ABG), and Emirates Global Islamic Bank have planned a merger of the branches of Al Baraka Islamic Bank and Emirates Global Islamic Bank Pakistan under the name of Al Baraka Bank Pakistan, according to a statement.
“It will be the first Islamic banking merger in Pakistan and would bode well for the overall banking industry,” said Roger Dawood Bayat, Head of Investor Relations and Corporate Communications, Emirates Global Islamic Bank Limited.
