NO. 43


Financial and Banking News

Regional Banking

Uncertainty Continues over GIB Stake in BAII

At the end of July it was still unclear whether Gulf International Bank (GIB)and the French central bank, Banque de France, would reach agreement on GIBtaking a substantial stake in Banque Arabe et Internationale d'Investissement (BAII).BAII was recapitalized at the end of June by Banque Nationale de Paris, which asa result holds 93% of the equity, and this percentage is expected...