World Bank's IFC Plans To Acquire Stake In Bank Alfalah


News: The World Bank's International Finance Corporation (IFC) plans to acquire an equity stake in Pakistan's Bank Alfalah, according to a statement by the Pakistani lender (Reuters). The statement claims that the country's central bank had allowed IFC to carry out due diligence on the lender. Details regarding the potential size of the stake were not disclosed. Bank Alfalah held assets worth PKR31.9bn (USD322.8mn) as of December 2013 and has footprints in Afghanistan, Bangladesh, Bahrain and a representative office in the UAE. Bank Alfalah also runs the second-largest Islamic banking operation in Pakistan.

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Geography: Pakistan