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Islamic Bank of Britain takeover moves a step closer

Duncan Tift
Duncan Tift
Deputy Editor, West Midlands

THE possible takeover of Birmingham-based Islamic Bank of Britain has moved a step further with the board confirming it is in direct negotiations with its would-be purchaser.The bank said it was now holding talks with Masraf Al Rayan (MAR) regarding a possible offer for the whole of the issued share capital of IBB.  IBB said before Christmas that while it had not received a direct approach from MAR, its main shareholder Qatar International Islamic Bank (QIIB) was progressing talks with MAR regarding the sale of its IBB shares,... for the full story register now for free or login below...

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