IslamicFinance.de

Shami Bank released on 13 April the successful closure of its USD 90 mn Shamil Bosphorus Modaraba, an investment vehicle with an expected 60 % over three years focussing on residential and mixed-use real estate developments in Istanbul, and secondary homes on the Turkish coast.

The total cost of the projects targeted is approximately USD 450 mn. Shamil Bank subscribed to 10 % of the USD 90 mn.

Abdul Hakim Al Mutawa is Investment and Private Banking Head of Shamil Bank.

http://www.arabianbusiness.com/index.php?option=com_pressreleases&view=d...

Matthew Martin reported on 18 March that Qatar Islamic Bank (QIB) is evaluating opportunities to acquire a conventional Egyptian bank and convert it into an Islamic bank, and is also applying for a banking licence in Turkey.
Qatar Islamic Bank will likely follow its strategy of independent brands, like before in regard to European Finance House in London, Asian Finance House in Malaysia and Arab Finance House in Lebanon.

Source: meed.com