United International Bank (UIB) has been launched by the Bahrain Monetary Institution as the biggest Islamic bank in the Middle East. The founding committee of UIB, headquartered in Bahrain, emphasized that subscription to the bank had been a success.
Subscription applications exceeded the paid capital required according to the licence and was estimated at US$1 billion, while the issued capital amounted to US$3 billion. Hence, UIB has become the biggest Islamic investment bank which adopts the principles of Islamic Shariah in all of its activities and products.
Sultan Fayez Al Matary, deputy chairman of Athar Al Magd holding company, UIB’s strategic partner, stated that many applications for special subscription have been submitted by financial and banking institutions, financial families, investors and businessmen from inside and outside the GCC countries. |
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