Dubai, May 16 (PTI) Pakistan's richest man, Mian Muhammed Mansha, is hoping to buy a majority stake in a Dubai-based bank, a news report has said.
Mansha is chairman of Muslim Commercial Bank (MCB), Pakistan's largest lender by market value.
The Nishat Group, of which he is the chairman, has assets valued at USD 5 billion and has operated an insurance company in the UAE under the Adamjee Insurance brand for 40 years.
Nishat Group also holds a majority stake in MCB.
"I would prefer to go through the acquisition route, although it has many pitfalls. I think there will be many institutions which need help in Dubai," Mansha told Arabian Business.
"My idea is always to take a majority stake, but initially, we could even take a minority stake with an agreement with the sponsor that we would ultimately take a majority step.