May 21 The World Bank's International Finance
Corporation (IFC) is considering buying an equity stake in
Pakistan's Bank Alfalah, the Karachi-based lender said
in a statement.
Setup in 1992, Bank Alfalah is owned and operated by the Abu
Dhabi Group, which is owned by a member of Abu Dhabi's ruling
family, and is the sixth-largest bank in Pakistan.
The statement said Pakistan's central bank had allowed IFC
to conduct due diligence on the bank. No details were given on
the potential size of the stake.
The bank held 31.9 billion rupees ($322.8 million) worth of
assets as of December and has a presence in Afghanistan,
Bangladesh, Bahrain and a representative office in the United
Bank Alfalah also operates the second-largest Islamic
banking operation in the country.
($1 = 98.8250 Pakistani rupees)
(Reporting by Bernardo Vizcaino; Editing by Praveen Menon and