Dubai Islamic Bank In Talks For 40% Stake In Indonesian Lender -CEO

Dubai Islamic Bank (DIB) is in talks with an Islamic bank in Indonesia to take a 40 per cent stake, DIB’s chief executive said on Thursday.

Adnan Chilwan told reporters that DIB hoped to conclude a deal before the end of the year and that it would pay for the purchase using its own cash reserves.

He declined to name the acquisition target but said its parent was a listed company.