CBK to invest $30 million in Yemen
The Source: www.sabanews.net - 1/11/2008
Home \
Business News
The Commercial Bank of Kuwait (CBK) has announced it will invest a
capital of $30 million in Yemen in partnership with the Yemen-Gulf Bank
and the International Finance Corporation.
The announcement
was made at the meeting that gathered head of the General Authority for
Investment Salah al-Attar and chairman of the board of directors of the
bank Abdul Majeed al-Shati.
The meeting discussed opportunities
and merits of banking investment in Yemen and raised issues related to
cooperation between the CBK and the Yemen-Gulf Bank.
Al-Attar
also met with director of the following-up unit at the Kuwait
Investment Authority Mutlaq al-Sana'a and Waleed al-Rowdhan from the
Kuwaiti Investment Authority and discussed with them aspects of
cooperation between the two countries authorities of investment.
He
also met with executive director of the Kuwait Finance House (KFH)
Muhammad Al-Omar. The two discussed the possibility of supporting
private sector projects through ensuring necessary transfers to
establish strategic projects in Yemen.
Al-Attar submitted to al-Omer two private sector projects to study the possibility of providing funds for their establishment.
Al-Attar
also met with chairman of the board of directors of the Arab Social and
Economic Development Fund Abdul Latif al-Hamad and discussed ways to
boost cooperation between the fund and General Authority for
Investment.
Al-Attar, furthermore, held talks with Kuwaiti
company owners and investors topped by the the M.A Kharafi Group of
Kuwait Nasser Abdul Muhsen al-Kharafi who said his company plans to
establish investment projects in Yemen in various promising investment
sectors.
Al-Attar introduced them to investment opportunities and facilitations the Yemeni investment laws provide for foreign investors.
|