Business Services Industry
JORDAN: ARAB BANK PARTICIPATES IN SYNDICATED LOAN TO MAJOR SAUDI PROJECT.
IPR Strategic Business Information Database, February, 2006
According to "Jordan Times", Arab Bank along with other major Saudi and international banks extended $2 billion syndicated loan to finance the third stage of Al Sheibeia water and electricity production project in the kingdom of Saudi Arabia. Arab Bank Chairman Abdul Hamid Shoman stressed the bank's continued policy to help finance Arab development projects and serve Arab investors.
Last year, Arab Bank Group posted record profit totaling $761 million.
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