VOL. XXXVI

NO. 39

28-JUNE-1993

Financial and Banking News

REGIONAL BANKING

Losses Wipe Out Equity At National Bank Of Sharjah

National Bank of Sharjah did not issue its 1992 figures at the shareholders'meeting held on 22 June. Shareholders were told that the bank's equity ofDh415mn ($113mn) has been wiped out as a result of previous years' losses, butthat the government will inject Dh80mn ($22mn) to get the bank moving again.This money will in part be used to pay shareholders Dh2.5 for each share...