Saba Bank signs agreement with IFC

SANA'A, Dec. 16 (Saba)-Saba Bank signed
agreement on Wednesday with the International Finance Corporation IFC of World
Bank.
Under the fifteen-mouth agreement, the IFC would support Saba Bank in domain of
developing the system of risks and investments management at the bank as well as
improving
its information system.
For its part, the bank would pay $ 643,000 to the IFC that would grant $ 161,000 to
the bank.
The agreement was signed by the board chairman of Saba Bank Hamid al-Ahmar and head
of the risks management department at the IFC who said that the corporation is
working
to develop capacities of the Yemeni banks to play active role in the process of the
economic development.
AH