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A strategic agreement was signed in the Yemeni capital of Sanaa whereby Bahrain Islamic Bank (BisB) acquired a significant stake in the Islamic Bank of Yemen.
The signing was attended by the Yemeni Prime Minister Dr Ali Majour, Yemeni Deputy Prime Minister for Economic Affairs, a number of Yemeni government officials and senior officials in the two banks. The agreement was signed by BisB board chairman Khalid Abdulla Al Bassam and Islamic Bank of Yemen board chairman Haj Abdul Karim Abdul Rahman Al Aswadi.
