Home News: Bank of Sudan and UAE to be Established
Posted on Thursday, December 30 @ 06:28:51 UTC by mak |
SUNA: Establishment of The Sudan and United Arab Emirates (UAE) Bank was announced Tuesday.
The bank will be headquartered in Khartoum, in the form of a share-holding company that will bring together a number of companies, institutions, leading Islamic banks, and businessmen from the two countries. UAE State Minister for Finance and Industry, Chairman of Dubai Islamic Bank and Head of the Foundation Committee of the Sudanese - UAE Bank, Dr. Mohamed Khalfan bin Kharbash, said in a press conference at Friendship Hall on Tuesday that the bank aims to boost economic development in Sudan, adding that Sudan is rich in natural and human resources. The bank represents a new addition to deeply-rooted relations between the two countries, said Dr. Kharbash. The Sudan/UAE bank was established after the Bank of Sudan agreed the capital of the bank would total 200 million dollars provided that the paid capital was 100 million dollars. The bank is expected to begin its activities in mid-2005.
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