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Qatar, Bahrain to launch bank together
Middle East News.Net
Saturday 10th May, 2008 (IANS)
The Gulf states of Qatar and Bahrain are soon going to launch a bank as part of a string of joint venture projects between the two countries.
Chairman of Bahrain Chamber of Commerce and Industry (BCCI) Essam Fakhroo said the new bank would be an initiative of the chambers of commerce of the two countries, according to a report in Qatar's Peninsula newspaper.
He said both the BCCI and Qatar Chamber of Commerce and Industry (QCCI) have agreed on several projects including the bank and they have already set up a joint Islamic finance-compliant insurance company.
The two industry bodies had last year agreed to set up several joint ventures including a bank, investment, insurance, transport and real estate development companies, an aluminium smelter plant and a glass factory, among others.
Recently the two countries had announced a joint new causeway project.
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