Middle East Economic Survey

VOL. XLVII

No 50

13-December-2004

REGIONAL BANKING

Al-Salam Bank Increases Capital To $100Mn

Sudans Al-Salam Bank has received approval from the Central Bank of Sudan and the Khartoum financial market to increase its capital from $75mn to $100mn. The bank launched an initial public offering (IPO) earlier in October in order to raise the remaining 25% of its unsubscribed capital of $75mn (MEES, 25 October), but the oversubscribed IPO yielded $31mn instead of the initial...