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Article: Maghreb investment bank takes shape. (Maghreb International Bank) (Finance)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- December 17, 1993
CopyrightCOPYRIGHT 1993 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Morocco has been chosen as the base for the new European and Maghreb merchant bank, the Maghreb International Bank (MIB), in preference to a European country, the founders have decided.
Belhadj Merghoub, the Washington representative of the African Development Bank (AfDB), which has been instrumental in establishing MIB, says the new bank will be based either in Tangier, Morocco's offshore banking zone, or Casablanca. Initial studies by the Netherlands' ING Bank, financed by AfDB, proposed a European headquarters, such as Paris, London, Brussels or Geneva (MEED 15:10:93).
MIB is scheduled to start operating in early 1994. The bank is currently applying for a ...