VOL. XLVI

No 44

3-November-2003

BAHRAIN

REGIONAL BANKING

Bahrain Investors BankTo Set Up Islamic Insurance Holding Company

The Investors Bank in Bahrain, which is owned by Kuwaitis, is to establish the first Islamic insurance holding company with a capital of $90mn, headquartered in Manama. The move into insurance business is part of the banks plan to restructure and raise its capital base from $30mn to $50mn with effect from January 2004 through a private share offering. Bank chairman Sami al-Badr...