VOL. XLII
No. 36
6-September-1999
IRAN
Iran Sets Up Joint Venture Bank With Saudi/UAE Partners InSarakhs Free Zone
A joint-venture Iranian-Arab bank capitalized at $150mn wasrecently established, the Managing Director of the Sarakhs Special EconomicZone, Mr. Naser Vaez-Tabasi, announced on 31 August. The new venture, known asthe Iranian Arab Investment and Development Bank, is 33.5% owned by the QodsRazavi Foundation of Iran, with the remainder of the capital held by partnersfrom Saudi Arabia and...
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