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KARACHI, June 15: In a newsitem captioned “Dawood group signs pact for Islamic financing,” appearing on the Business page on Wednesday (June 13, 2007), it was erroneously reported that ‘The group had also started Islamic banking through Dawood Islamic Bank but failed to run the bank which was sold out.”
The Bank, which was sold out earlier, was known as ‘Dawood Bank Limited’ which was a conventional bank. The ‘First Dawood Islamic Bank’ is a separate entity and is operational since April 10, 2007. The error is regretted.
