Financial and Banking News

REGIONAL BANKING

AFS Loses $2mn Despite Strong Growth 

The Arab Financial Services Company (AFS) last week released results for its first full financial year which indicated a $2.2mn loss related to heavy start-up costs. AFS Chairman Abdulla Saudi's statement pointed out that the company had achieved its two principal objectives: to develop a strong presence in all Arab markets and to introduce its first product, which is a VISA-based travellers check...