The Boards of Saudi British Bank and Alawwal (formerly Saudi Hollandi) have agreed to merge their banks. The new bank is expected to become the third largest in Saudi Arabia, behind National Commercial Bank and Al-Rajhi.
Eid el-Fitr is the Muslim holiday that marks the end of the month of Ramadan. The first day of the Eid (which means 'festival' in Arabic) was due to be either Sunday 25 June or Monday 26 (depending on the movement of the moon), and the ensuring holiday (when offices in Muslim countries are closed) lasts several days. The number of days differs from country to country.
More in News
There are new appointments at First Abu Dhabi Bank in London and British Arab Commercial Bank, while a new appointment is expected at Europe Arab Bank in London.
The Arab Bankers Association sends its warmest greetings to its members and their families on the occassion of the holy month of Ramadan
The Arab Bankers Association extends its condolences to the family and friends of Tirad al-Mahmood, the CEO of Abu Dhabi Islamic Bank, who died in April after a long battle with illness.
The latest firm to join the ABA as a Corporate Member is Belleveue Mortlakes, the London-based property surveyors who are principally involved in property valuation but also manage receiverships and redemptions. The firm works with a core group of about 50 UK and Middle Eastern banks. Shaf Ali will be the firm's key contact with the ABA.