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SAUDI ARABIA: SAUDI INVESTMENT BANK RAISES CAPITAL.(Brief Article)
IPR Strategic Business Information Database, December, 2003
According to Al-Sharq Al-Awsat newspaper (December 15, 2003), the Board of Directors of the Saudi Investment Bank recommended the General Assembly to raise the bankEs capital through issuing and distributing one free share for every existing four shares. Thus, the capital of the bank will rise from SR 1.1 billion ($293.3 million) to SR 1.4 billion ($366.6 million).
The Saudi Investment Bank (SAIB) is a Saudi Arabian joint stock company established by Royal Decree no. M/31 dated June 23, 1976. SAIB is a full service wholesale commercial bank specializing in financing the requirements of sophisticated private sector companies. SAIB provides a full range of personalized and professional banking services to financial institutions, corporations and individuals.
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