Deutsche Bank formed Deutsche Gulf Finance, a joint venture Shariah-compliant home financing firm owned 40% by the bank’s Riyadh Branch and 60% by a group of Saudi-based buyers led by Fahad Abdullah Abdulaziz Al Rajhi.

The Company has an initial capitalization of approximately USD110 million, and at first will provide Shariah-compliant home financing for properties located in Saudi Arabia, with plans to expand its operations into Bahrain, Qatar and Kuwait over time. Deutsche Gulf Finance has commenced financing completed units as well as those under construction on individual lots or at real estate developments.

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