VOL. XL
No. 14
7-April-1997
SAUDI ARABIA
NCB Becomes A Joint Stock Company
Meanwhile, the largest bank in the Kingdom, National CommercialBank (NCB), said on 1 March that a royal decree had given approval through the Council ofMinisters for a change in the bank's legal status from that of a partnership to a jointstock company. In the process, Mr. Khalid bin Mahfuz, who with his wife owns 100% of NCB'sshares, will sell an undisclosed stake to between 15 and 20 shareholders. The sale ofshares...
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