Venture Capital Bank to raise capital
Manama, March 5, 2009
Bahrain-based Venture Capital Bank has decided to raise its capital to $250 million.
The bank also announced that it has obtained the licence to launch a company to finance small and medium projects.
Chairman Ghassan Al Suleiman said the bank will launch investment funds in Saudi Arabia, Qatar and the UAE.
Chief executive officer Abdullatif Janahi said the bank plans to build $50 million maternity hospital, our sister paper Akhbar Al Khaleej reported.-TradeArabia News Service
More Finance & Capital Market Stories
- Gulf must consider flexible exchange rate: banker
- Productivity, trade 'key to Bahrain growth'
- Arqaam Capital advises Magrabi on key acquisition
- NBK to fund hospital expansion
- Doha Bank may sell bonds to raise capital
- Reuters launches Islamic finance indicator
- IMF 'not worried about Dubai debt obligations'
- Nonoo Exchange opens Riffa branch
- Inflation a risk for strong Saudi economy: IMF
- Ahli United expands key POS service