VOL. XXXII
NO. 3
24-OCTOBER-1988
Financial and Banking News
REGIONAL BANKING
Egyptian Government Freezes Assets of Al Rayan
The Egyptian Government last week invoked emergency regulations to freeze thelocal assets of the controversial Islamic investment company Al Rayan. Thecompany had earlier announced its intention to close down rather than complywith the Deposit Taking Company Law which was passed in June, and in response todepositors' demands for their money to be returned, had offered to give...
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