Oct 02 2010 |
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Arab investment firm to review performance
Saturday, Oct 02, 2010
Gulf News
Board of directors to hold its meeting today
Riyadh The board of directors of The Arab Investment Company ( TAIC ) will hold its periodic meeting today in Dubai.
The meeting will be chaired by Chairman Yousuf Ebrahim Al Bassam with the participation of members representing the shareholding countries. The board holds it annual meetings in a different member country each year.
It will discuss the report of the Bahrain branch, which provides diversified financial services to investors, including trade financing among member countries. The Bahrain branch acts as a wholesale bank that aims to invest TAIC financial surpluses in order to enhance its project equity investments by generating additional income for reinvestment in Arab economies.
Develop Arab resources
TAIC was established in July 1974 as a pan-Arab joint-stock company with the objective of “investing Arab funds to develop Arab resources in different economic sectors”, according to its articles of association.
The company is owned by the governments of 17 Arab states with an authorized capital of $800 million and a paid-up capital of $700 million.
Its head office is in Riyadh with regional offices in Manama, Cairo, Tunis and Amman.
Evaluation
By Abdul Nabi Shaheen?Correspondent
© Gulf News 2010. All rights reserved.
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