Financial and Banking News
GIB's Capital Restructuring Removes Iraq as Shareholder
Iraq has ceased to be a shareholder in Bahrain-based Gulf International Bank(GIB) as a result of a capital restructuring announced on 22 April. The movehas been expected for some time. GIB is now wholly owned by Kuwait-based GulfInvestment Corporation (GIC), which is itself owned by the six GCC states.Before GIC injected fresh capital of $450mn into GIB in March 1991,...