NO. 34


Financial and Banking News

Regional Banking

Citibank to Become First US Bank in Algeria

Citibank has been given a license to open a branch in Algeria. It will be thefirst US bank to open in the country since the passing last year of a newforeign investment law which allows wholly foreign-owned banks to operate in thecountry. In November Saudi Arabia's Al-Baraka group, owned by Mr. Salih Kamil,formed a joint venture with the local Banque de l'Agriculture et du...