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Islamic Development Bank to buy more stock in #Sri Lanka's Amana

Tue, 2017-05-23 14:34 — newsdesk

The Islamic Development Bank will invest more cash in Sri Lanka's Amana Bank through an investment vehicle. Approval has been recently given for the investment group to go up to 29.9% of the stock by subscribing to a cash call. The investment vehicle IB Growth Fund (Labuan) will buy stock in in an upcoming rights issue. The investment deal was inked on May 18 in Jeddah, Saudi Arabia.

Source: 

http://www.economynext.com/Islamic_Development_Bank_to_invest_more_in_Sr...