VOL. XXXII

NO. 15

16-JANUARY-1989

Financial and Banking News

REGIONAL BANKING

Second Investment Company Chief Jailed in Egypt

Following the detention of senior officials of Egypt's biggest Islamicinvestment company, Al Rayan, the owner and Chairman of Al Badr Company forInvestments, Mr. Mahmud Sa'id al-Tahnun, has been sentenced to three years inprison for various infringements of Egyptian banking law, including foreignexchange dealing, deposit taking and publicly subscribing shares in the company....