09 July 2008
After launching aggressive expansion plans in the Middle East and North Africa and Gulf Cooperation Council regions, the ALUBAF Arab International Bank-Bahrain yesterday obtained shareholders' approval to raise its capital to $100 million. The capital has already been injected supported by the Libyan Foreign Bank-Tripoli, which owns 95.11 per cent of the share capital.
The bank held its 26th Annual General Assembly Meeting and Extraordinary General Assembly for shareholders here yesterday.
Apart from giving the green signal for a capital increase, the meeting also nominated a new Board of Directors. The new board includes Chairman of the Libyan Foreign Bank - Tripoli, Dr. Mohammed Abdulla Bayt Almal and its General Manager Mohammed Najeeb Ehmeedah Al Jamal, reflecting the support of the top management of Libyan Foreign Bank-Tripoli towards the shareholding.
The bank reactivated its wholesale banking operations at the end of 2007 and purchased a piece of land at Al Seef District to construct its own premises.
After launching aggressive expansion plans in the Middle East and North Africa and Gulf Cooperation Council regions, the ALUBAF Arab International Bank-Bahrain yesterday obtained shareholders' approval to raise its capital to $100 million. The capital has already been injected supported by the Libyan Foreign Bank-Tripoli, which owns 95.11 per cent of the share capital.
The bank held its 26th Annual General Assembly Meeting and Extraordinary General Assembly for shareholders here yesterday.
Apart from giving the green signal for a capital increase, the meeting also nominated a new Board of Directors. The new board includes Chairman of the Libyan Foreign Bank - Tripoli, Dr. Mohammed Abdulla Bayt Almal and its General Manager Mohammed Najeeb Ehmeedah Al Jamal, reflecting the support of the top management of Libyan Foreign Bank-Tripoli towards the shareholding.
The bank reactivated its wholesale banking operations at the end of 2007 and purchased a piece of land at Al Seef District to construct its own premises.
© Bahrain Tribune 2008
