Future of Albaraka & The International Investor
The International Investor (TII) regrets to announce that, following a request by Dallah Albaraka Group (DBG), both parties are currently discussing the possibility of unwinding the merger transaction known as "Albaraka & The International Investor".
Although difficult and complicated at this stage, both parties will work together amicably to ensure that the unwinding process is carried out in a speedy, effective and friendly manner.
This is a disappointing development, given the extensive merger integration work that has been undertaken to date. However, TII still believes that the strategic goals of the merger are very valid, and plans to pursue these independently.
At the same time, both parties remain committed to the development of a strong and competitive regional Islamic banking sector, and will seek different ways of collaborating in the future.
This announcement is made without prejudice to the respective rights of both parties.