The Arab Investment Company announced on Sunday, June 10, that the company’s profits for the year 2000 amounted to $35.3 million, reported AFP news agency.
Although AIC did not directly state whether the profits were higher or lower relative to the preceeding year, according to banking sources, the figures for the year 2000 were approximately $1.1 million lower than those of 1999.
Riyadh-based AIC was founded in 1974 and is owned by 17 Arab states with offices in Tunis, Amman, Cairo and Manama. Its capital stands at $400 million. — (MENA Report)
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