The world’s biggest Islamic bank is set for official launch before the end of the year by Sheikh Saleh Kamel, chairman of Al-Baraka Banking Group, with an initial public offering of $3bn, Saudi Gazette has reported. “We have already completed the necessary research for launching the Islamic bank and there are currently discussions between Sheikh Saleh Kamel and investors to prepare for the public offering,” Adnan Yousuf, chief executive officer of Al-Baraka Banking Group said. The mega bank announced last year will have an initial capital of $10bn through a number of initial public offerings and private stock options.