NO. 22


Financial and Banking News

Regional Banking

GIC to Inject $450mn into GIB but GIB Will Retain Independent Management

The announcement that Gulf Investment Corporation (GIC) is to inject newcapital of $450mn into Gulf International Bank (GIB) has ended the speculationover GIB's immediate future, while shelving, for the time being, the issue ofIraq's shareholding in the bank. GIC's investment is expected to give it a stakeof about 30% in GIB making it the largest single...