VOL. XLVI

No 48

1-December-2003

REGIONAL BANKING

Hariri Extends Control Over Arab Bank As Saudi Oger Buys 11%

Lebanese Prime Minister Rafiq al-Hariri has extended his control over Arab Bank after Saudi Oger bought an 11% stake in the Jordan based bank from the family of the late Khalid Shoman. Mr Hariri is President and Chairman of the board of Saudi Oger and already owns, with his family, around 10% of Arab Bank. The latest move takes Mr Hariri and his familys shares to around 18%. The $375mn...