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Advertisers Bank of Bahrain and Kuwait B.S.C.
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Arab Banking Corporation and Arab Banking Corporation Islamic Bank
Arab Banking Corporation (B.S.C.) ("ABC"), established in 1980, is headquartered at ABC Tower in the Diplomatic Area of Bahrain.
ABC was incorporated as a Bahrain joint stock company on January 17, 1980 pursuant to a special decree of His Highness, the late Amir of the State of Bahrain, Sheikh Isa bin Sulman Al Khalifa, and was issued an Offshore Banking Unit license by the Bahrain Monetary Agency on April 7, 1980. Operations commenced that month.
One of the reasons underlying ABC's formation was the recognition that, despite their established presence in international financial markets, Arab banks were restricted in the volume of their activities by their comparatively small capital structures. Accordingly, ABC was established with an authorised capital of US$1,000 million of which US$750 million was issued and paid up by April 1, 1981.
At the end of 1989, ABC's authorised capital was increased to US$1,500 million. In 1990, ABC listed its shares on the Bahrain and Paris stock exchanges and increased its paid-up capital to US$1,000 million by a public offering in Bahrain and an international private placement.
ABC's strategy of diversified growth led to the development of its widespread network (the "ABC Group") of branches, representative offices, subsidiaries and affiliates in over thirty countries around the world, including most principal international financial centres. ABC's branch offices are situated in Grand Cayman, Milan, New York, Singapore and Tunis. The ABC Group provides a wide range of banking services. ABC's branches focus principally on wholesale commercial and corporate banking and trade finance services. Its subsidiaries concentrate largely on exploiting opportunities in domestic retail and merchant banking sectors. Its affiliates offer specialised financial services.
Private Banking: A range of services is available through several ABC Group units. |
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Table of Contents The Al Khalifa Dynasty - Ruling Bahrain Since 1783 |
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The three original shareholders were the Abu Dhabi Investment Authority, Kuwait's Ministry of Finance and the Libyan Secretariat of Treasury (later the Central Bank of Libya). Each of the three shareholding groups held one-third of ABC's share capital until 1990.
The services provided by the ABC Group include: Corporate Banking: Syndicated loans; a full range of trade finance services; project-related and bonding facilities; energy and acquisitions financing; aircraft/asset-backed finance. Treasury: Spot and Forward FX in major, Gulf and Arab world currencies; FX margin accounts; money markets in all major currencies, Currency latest rate options, Interest rate derivatives; Investment banking; securities trading; underwriting and placement; portfolio management; corporate advisory services; bridge finance; mergers and acquisitions. Islamic Banking: Islamic products include: Morabaha (Credit Sale), Mudaraba (Trust financing), Musharaka (profit sharing), Bai-Al-Salam (sale with future delivery), Al-Qard-Al-Hassan (benevolent loan), Ijara (leasing) and Istisna'a (pre-manufacturing finance). ABC Islamic Bank also offers liquidity managed funds: ABC Islamic Fund & ABC Clearing Company.