A 100 million pound Egyptian - Yemeni bank to help trade

It was agreed to establish a joint Egyptian - Yemeni bank with a capital of 100 million Egyptian pounds.

12 Egyptian and Yemeni businesses signed the contract to establishing a joint company for investment with a permitted capital of 100 million Egyptian pounds and 10 million pounds in paid capital.

It was agreed that the bank's headquarter will be located in Sanaa.

This came during the meetings to prepare for the joint Yemeni - Egyptian high committee which starts its works today under the chairmanship of Egyptian Minister of State for Planning and International Cooperation Zafer El-Bashri and Yemeni Minister of Trade and Supply Abd al-Aziz al-Kumaim.