VOL. XLI
No. 09
2-March-1998
GCC
Conditions For GCC Banks Opening Branches In The Gulf
The following, outlined in a circular issued by the Central Bank of Oman dated 14February, are the main conditions for the opening of branches within the states of theGulf Cooperation Council (GCC):
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The aggregate share capital of the bank must be at least $100mn. (Presumably this would have to be fully paid up).
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The bank should have been conducting banking business for at least 10 years.
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The institution...
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