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AMB raises its capital to $40 million.

2008-04-27

Alrafah Microfinance Bank will convene its general assembly today to discuss the bank"s capital raise by $10 million to $40 million. Al-Ayyam newspaper knew that this raise will be as a private subscription for the shareholders, and maybe a portion will be pertained to a strategic partner. This capital increase exceeds the minimum that had been specified for the capital of working banks in Palestine by the Palestinian monetary authority that is amounted $35 million. The bank had got all the necessary approvals for this capital raise, whether from the PMA, the CMA or the companies" inspector in the national economy ministry. And by this raise, AMB will be the third largest Palestinian bank from the capital aspect.   


 

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