Bahraini, Dutch and Iranian corporations discuss purchasing Misr - Iran Bank
Egypt-International, Business, 4/7/2000

Many Arab and foreign financial and investment companies, including the Bahraini Ahdaf, which is in an financial alliance with the Iranian Foreign Investment Company, started new procedures to purchase 80% of the shares of Misr - Iran Bank for Development, which are scheduled to be raised for sale during the coming period in the program to privatize the Egyptian government's share of the joint banks and corporations.

The Netherlands-based ABN AMRO Bank also seeks to purchase the raised shares.

The Arab Banking Corporation (Tehran) is getting into the competition with the corporations who wish to purchase the Egyptian shares that are raised for sale.

The bank's capital is $200 million distributed as follows: 40% Alexandria Bank's share, 40% for El-Sharak insurance company, and 20% for the Iranian Foreign Investment Company.

Previous Stories:
  Misr - Iran Bank to be sold in March   (3/3/2000)
  Selling the Egyptian government's shares in the joint banks   (4/9/1999)
  Iran to purchase some Egyptian companies being privatized   (3/17/1999)

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