Middle East Economic Survey

VOL. XLVII

No 30

26-July-2004

REGIONAL BANKING

Arab investors To Set Up $75mn Al-Salam Bank in Sudan

A group of Arab investors announced on 18 July that they had formed a joint venture with government organizations in Sudan to set up Al-Salam Bank in Khartoum with an estimated capital of $75mn. Initial contributions from the investors are expected to cover 75% ($57mn) of the targeted capital, with the remaining 25%, approximately $18mn, to be raised by an initial public...