VOL. XLI

No. 23

8-June-1998

UAE

New Shareholders At First Gulf Bank

The shareholders of First Gulf Bank, one of the smallest of the UAE banks, have decidedto triple paid-up share capital to Dh360mn ($98mn) from the current Dh120mn ($33mn)following the takeover of the bank by new shareholders. The bank will also be moving itsheadquarters from 'Ajman to Abu Dhabi, where it already hasa branch in addition to one in Dubai. The new shareholders - who include members of the AlNuhayyan, the ruling...