Financial and Banking News
Luxembourg-based UBAE Arab German Bank Expected to Close
The general assembly of Luxembourg-based UBAE Arab German Bank will meet on16 October to consider a proposal from the board of directors that the bankshould be closed. The proposal is expected to be approved. Closure has beenmade inevitable by the desire of Commerzbank to sell its 25.1% stake, and by therefusal of the the Luxembourg monetary authorities to allow Arab...