Menu JTA Search

Report Pan-arab Bank Established

El Liwaa, Arab daily, reported today the formation of a Pan-Arab Corporation Bank, Ltd., with capital of $ 1,250,000. Fifty-one per cent of the shares will be offered to Arabs, the remainder to be held by Lord Winterton, David Lloyd George, Lord Beaverbrook and other British notables favorable to the Arab cause, the paper said, adding the bank would open in April.