MANAMA, 26 September — Shamil Bank has acquired a 51 percent stake in Faisal Finance (Switzerland) S.A. (FFS). Announcing this, the bank stated in a press release yesterday that FFS worked in conjunction with reputable global financial institutions and provided an extensive range of innovative products to suit clients’ requirements. These Shariah compatible products and services include real estate, trade finance, capital markets and leasing. “Combining these global capabilities of the FFS with those of Shamil is expected to result in creating a highly effective and efficient business consolidation of the two sister institutions,” the bank stated. “This consolidation will add to Shamil Bank’s power in achieving its objective for expanding its business in both domestic and regional markets. It will also open a large window for Shamil Bank to expand its operations in Western markets. Moreover, the bank will benefit from FFS’s Western-based investment advisory and asset management expertise for businesses and high net-worth individuals. FFS will also be an important transaction source and developer of Islamic products for Shamil Bank.