BANKING - Bahrain's Al-Baraka to enter Saudi through acquisition

REUTERS - DUBAI: Bahrain's Islamic lender Al-Baraka said on Tuesday it planned to enter the Saudi Arabian market through an acquisition of an Islamic investment company, valued at around SR300 million ($80 million).

"The group is in the process of obtaining approval from Saudi authorities to enter the Kingdom this year through acquiring one of the companies operating in the Saudi market," the lender said in a statement on the bourse website.