IslamicFinance.de

Dawood Islamic Bank Limited (DIBL) has received Rs1 billion (US$12.9 million) investment from Bahrain-based Unicorn Investment Bank Limited. Unicorn already had a 22.2% equity stake in DIBL prior to the current investment. Unicorn Managing Director Aamir Khan said that the decision to invest in Dawood Islamic Bank is based on excellent opportunities that are available in the Islamic banking sector of Pakistan. DIBL Chairman Rafique Dawood said the investment by Unicorn would further boost the bank's ability to provide support to trade and industry through its various Riba-free banking products. DIBL has a network of 21 branches spread over the major cities of Pakistan including Karachi, Lahore, Islamabad, Faisalabad, Multan, Sialkot, Iqbalabad and Joharabad.

Dawood Islamic Bank Limited has received Rs. 1 billion (USD 12.9 mn) investment from Unicorn Investment Bank Limited, based in Bahrain , this was stated in a statement issued from Bank’s headoffice in Karachi. Dawood Islamic Bank launched in 2007 with an initial paid-up capital of Rs. 3 billion. The Dawood Islamic bank has a branch network of 21 branches spread over the major cities of Pakistan , including Karachi , Lahore , Islamabad , Faisalabad , Multan , Sialkot , Iqbalabad and Joharabad.

Unicorn already had a 22.2 % equity stake in Dawood Islamic Bank prior to the current investment. With the new investment the equity of Unicorn Investment Bank, in Dawood Islamic Bank has increased to 37% percent

Aamir Khan is Managing Director and Head Global Private Equity of Unicorn Investment Bank and a founder Director of Dawood Islamic Bank

Said Rafique Dawood is Chairman Dawood Islamic Bank.