Middle East Economic Survey

VOL. XLVII

No 22

31-May-2004

UAE

REGIONAL BANKING

Mashreqbank To Finance $192Mn Construction Contract For Bahrain Financial Harbor

Mashreqbank has signed an agreement with Sharjah-based al-Hamad Contracting Company to fully finance its Dh705mn ($192mn) contract for the Bahrain Financial Harbor (BFH). MEES understands that the UAEs Mashreqbank will bear the full risk of the financing, as it also recently proposed for the Dh1.6bn ($436mn) financing of Arabtec Constructions...