Economy




IFC to take 15% stake in Bank Alfalah

NEW YORK: The World Bank’s International Finance Corporation (IFC) will take a 15 percent stake in the paid-up capital of Pakistan’s Bank Alfalah, the Karachi-based lender said in a statement.








Islamic banking: Who is in control?

The Islamic Development Bank’s (IsDB) successful sukuk issue clearly demonstrates the market remains open to welcoming this kind of financial activity.



Goldman Sachs reveals ties to Libya fund

LONDON: Goldman Sachs has admitted in court documents to having used small gifts, occasional travel and an internship to cement its ties with Libya’s sovereign wealth fund under Muammer Qaddafi, the F



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