Financial and Banking News
AIB Inaugurates Bahrain OBU
The Cairo-based Arab International Bank (AIB) has inaugurated its first overseas branch as an Offshore Banking Unit in Bahrain. AIB, which commenced operations with a special offshore license in Egypt in 1974, is owned by the governments of Egypt, Libya and the UAE (each with 28.76%) together with Oman and Qatar (each with 4.78%) and private Arab investors. Its capital was increased earlier this year from $100mn...