NO. 11


Financial and Banking News

Regional Banking

EBI Takes Over Futtaim Share to Control Middle East Bank

Dubai-based Emirates Bank International (EBI) has acquired a controllingstake in the troubled Middle East Bank (MEB), also based in Dubai, by buying outits majority shareholder, Mr. Majid Muhammad al-Futtaim. The Chairman of EBI,Mr. Ahmad Humaid al-Tayir, has been appointed Chairman of MEB, and EBI's GeneralManager, Mr. John Lewis, has become Chief Executive...