Middle East Economic Survey
VOL. XLVII
No 34
23-August-2004
SAUDI ARABIA
REGIONAL BANKING
Al-Bilad Bank To Become Eleventh Saudi Bank
Representatives of eight Saudi foreign exchange firms have signed a merger agreement to establish the kingdoms 11th banking operation Al-Bilad Bank, to be based in Riyadh following approval from the Council of Ministers on 7 June. The bank, which is expected to be launched mid-way through next year, will have share capital of SR3bn ($800mn), making it the fourth...
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