Middle East Economic Survey
Central Bank Of Libya To Underwrite ABC Capital Hike
The Central Bank of Libya is to underwrite a $1.1bn capital hike for Bahrains Arab Banking Corporation (ABC). ABCs principal shareholders are: Kuwait Investment Authority (KIA) 29.7%; Central Bank of Libya 29.5%; and Abu Dhabi Investment Authority 27.6%. ABC said that KIA is also expected to subscribe to the rights issue. The move will increase paid up capital to a total of $3.11bn,...