Financial and Banking News


MEFG Bids for AAB in Bahrain 

The Middle East Finance Group (MEFG), a holding company for the Bin Mahfuz family of Jiddah (the owners of National Commercial Bank - NCB), has made a bid for all the equity of the Bahrain-based Arab Asian Bank (AAB). MEFG is a 25% shareholder in AAB, the remainder of the equity being held by Shaikh Fawaz ibn Muhammad al-Khalifah, Mr. Hussain Najadi, the Arab Malaysian Development Bank, Woodward and...