Bahrain's Ahli Bank Gets OK To Up Stakes In Egypt, Iraq Banks

[Seaview]

Bahrain's Ahli United Bank (http://www.zawya.com/cm/profile.cfm/cid4845), or AUB (http://www.zawya.com/cm/profile.cfm/cid5565), said Sunday it has received approval from the central banks in Egypt and Iraq to boost its stakes in two lenders.

Egypt's central bank has initially approved Ahli United Bank (http://www.zawya.com/cm/profile.cfm/cid4845)'s request to boost its stake in Ahli United of Egypt (http://www.zawya.com/cm/profile.cfm/cid4845)'s capital to a maximum of 90% from 35.3%, AUB (http://www.zawya.com/cm/profile.cfm/cid5565) said in a statement on the Bahrain bourse web site.

Iraq's central bank has also approved AUB (http://www.zawya.com/cm/profile.cfm/cid5565)'s request to raise its stake in Commercial Bank of Iraq (http://www.zawya.com/cm/profile.cfm/cid1001686)'s capital to 75% from 49% by buying its shares from the Iraqi bourse, AUB (http://www.zawya.com/cm/profile.cfm/cid5565) said in the statement. :rock: :happy: :yes:

AUB (http://www.zawya.com/cm/profile.cfm/cid5565) said on Saturday said it will repay $400 million of a $1.2 billion syndicated loan by the end of August, one month ahead of schedule.

http://www.zawya.com/Story.cfm/sidZW20090823000046/Ahli%20Bank%20Gets%20OK%20To%20Up%20Stakes%20In%20 Egypt,%20Iraq%20Bks/

[AbuSpinoza]

YEAH ! :clapping:

[Crow]

Thanks Seaview! Things take a little while to move along but they do!:yes:

[Las vegas Kid]

Thanks Seaview! Things take a little while to move along but they do!:yes:

Just wait till around end of Nov......:clapping: Just my guess for things to improve :rock:

[435613422]

75% is a big chunk =)