Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

REGIONAL BANKING

Bahrains Ahli United Bank Buys 40% of Al-Ahli Bank Of Qatar

Bahrains Ahli United Bank has reached an agreement to buy 40% of Al-Ahli Bank of Qatar for a price of QR121.875mn ($35.5mn) for 12.187mn shares, increasing the banks paid up capital to QR305mn from QR183mn. The Qatari government recently approved the transaction, which was expected to close within the next few days. Ahli Uniteds intentions were revealed in a...