VOL. XXXV

NO. 34

25-MAY-1992

Financial and Banking News

Regional Banking

AFS Will Double Capital to $100mn

Bahrain-based Arab Financial Services (AFS) announced on 21 May that it willdouble its authorized capital to $100mn, while paid-up capital will rise from$30mn to $60mn. The decision was announced during the company's annual generalmeeting in Manama by AFS Chairman Abdulla Saudi. The company reported anoperating profit of $9.99mn, a 98% increase over the 1990 figure. It alsodeclared a 6%...