VOL. XLIV

No. 08

19-February-2001

BAHRAIN

ABC Creates Islamic Subsidiary

Arab Banking Corporation International Bank (ABCIB) Plc announced on 11 February that it has established a new, specialist subsidiary ABCIB Islamic Management Limited or IAM. In a statement, ABCIB CEO Abd al-Majid Breish, who will become IAMs Chairman, said that the new entity will be the medium through which ABCIB will provide Shari'a-compliant financial services and products to rapidly expanding client bases in the ABC...