|
Iran, Saudi Arabia, UAE establish new bank
Saudi Arabia-Regional, Economics, 9/6/1999
The director general of the Iranian economic district of Sarkhas, Nasser Waez Tibsi, has announced that an Iranian, Saudi and United Arab Emirates joint bank with an Arab identity will be established.
In statements issued last week in Tehran, Tibsi said that the share of each of the three sides will divided equally, with 33.5% held by each member.
He added that branches will be established for the bank in Iran, the UAE and the countries of central Asia.
He said the initial capital for this bank is a sum of US $150 million. He continued that other sides can join the bank, which was agreed to be established during the recent visit by Iranian President Muhammad Khatami to Saudi Arabia.
Previous Stories:
Khatami meets with Saudi oil, trade ministers
(5/17/1999)
Iran - UAE trade fair
(10/7/1998)
Dubai Investments buys part of Saudi chemical firm
(7/24/1998)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
