A proposal has been recently raised by the Egyptian Federation of Chambers of Commerce (EFCC), regarding the establishment of a joint Arab bank. According to a recent report by Xinhua News Agency, this proposal aims to work as a means in which to form a common Arab Market and will be discussed at an Arab economic summit, planned for November 2001.
The chairman of the EFCC investor’s section, cited by the report, stated that the capital of this proposed bank is estimated at $1 billion. –(Albawaba-MEBG)
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