Al-Yamamah United Bank Launched [Archives:1999/26/Local News]

June 28 1999

As a result of a fruitful meeting of the Yemeni-Egyptian High Committee held in Cairo from June 16-19, an agreement has been signed to establish the Yemeni-Egyptian Bank. Due to the continual cooperation between the Yemeni and Egyptian private sectors in strengthening the brotherly relations between the two countries, especially in the field of Economics and investment, Mr. Shaher Abdul Haq, representative of the Yemeni businessmen and Mr. Mohammed Abdul Fatah Al-Mahry representative of the Egyptian businessmen reached an agreement on the establishment of a Yemeni-Egyptian Bank (Al-Yamama United Bank), with assets of US $ 100,000,000. The bank will improve the commercial exchange and initiate joint investment projects.