New Silk Road Finance Awards 2017 Middle East and Africa: Best local bank for BRI
Arab Investment Bank
China is keen to explore Belt and Road Initiative opportunities and projects in the Middle East and Africa and is becoming more active in the region.
Middle Eastern and Gulf banks, however, have so far been reluctant to get involved, wary of currency risks and volatile oil prices.
One bank that is showing interest mixed with caution, however, is Arab Investment Bank, which wins the award for best local bank in the Middle East and Africa for BRI this year.
Arab Investment Bank signed a cooperation protocol with China’s Tianjin Economic-Technological Development Area Corporation (TEDA) this year to expand projects and promote investment opportunities in the Suez Canal Economic Zone (SCZone).
TEDA is one of the oldest and largest industrial developers of the SCZone, a trade hub along the banks of the newly expanded Suez Canal.