Financial and Banking News


Allied Arab Bank Gets $41mn Rescue

Allied Arab Bank, a London-based commercial bank with a full banking license whose principal shareholders are Shaikh Kamal Adham of Saudi Arabia (with about 60% held directly and through two Luxembourg-based holding companies), Mr. Mohammad al-Tajir of Dubai (20% held through his Altajir Bank), and Barclays Bank plc (20%) is to receive a cash injection of £41mn ($52mn) from its shareholders this week....