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BMA (Bahrain Monetary Agency ) the countrys central bank has granted state bank of india a FCB(full commercial bank ) licence. SBI had received a licence to operate in Saudi Arabia and started its Oman Operations last year. The licence is in addition to the SBIs existing offshore banking unit ,which was established in Bahrain in in 1978. New licences at this month were approved by shaikh khalifa the prime minister of the kingdom of Bahrain. An investment banking licence has been issued to the Saudi Arabia -based Arab Petroleum Investments Corp. On commercial basis the financing of the oil , gas and petrochemical industries in arab countries will be supported by the new entity which will be an arm of API - CORP. |
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| Posted : 9/26/2005 |
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