Financial and Banking News


Arab Capital to Set up Offshore Bank in Tunisia 

An offshore banking unit to be known as the Arab World Bank is to be set up by a group of Arab businessmen and bankers in Tunisia with an authorized capital of $150mn and a subscribed capital of $100mn, of which $25mn is to be paid in initially and the remaining $75mn over a five-year period. So far a total of $80mn has been pledged toward the bank's subscribed capital by shareholders...