Al-Khalij enters UAE and European markets through BLC purchase

Qatar-headquartered Al-Khalij Commercial Bank, which offers Islamic and conventional banking services, has bought the French branch of Lebanon's Banque Libanaise pour le Commerce (BLC). In 2007, Al-Khalij announced it was in advanced negotiations to buy the assets of BLC bank in the UAE, which has branches in Abu Dhabi, Dubai, Ras Al-Khaimah and Sharjah. The final deal however, has been extended to include all of the bank's operations, including its business in Paris. The value of the deal has not been revealed. The