The Arab Hellenic Bank was an internationally owned bank based in Greece.
In 1978, in advance of the founding of the bank, the Greek government granted an exemption to its usual prohibition on foreign banks owning more than 40 per cent of the equity of a Greek bank. This permitted several Arab banks to establish Arab-Hellenic Bank with 49 per cent Arab ownership. The bank was founded in 1979, with Vassilis Sarantitis, an influential lawyer and for many years chairman of the Arab-Hellenic Chamber of Commerce, as one of the founders. Ownership was 51% National Bank of Greece, 20% Kuwait Investment Office, 20% Libyan Arab Foreign Bank (a Libyan institution), and 9% other Arab investors.
As the bank was undercapitalized and the central bank of the country demanded serious capital increase, in 1993 the Libyan Arab Foreign Bank proposed a cash infusion that would take its ownership to 72%, given the other shareholders' reluctance to participate. The plan was to take advantage of the EU "single passport" rules, which would permit Arab Hellenic to open branches in London and elsewhere in the EU, while subject only to Bank of Greece supervision. The UK and US governments protested strongly and blocked the move. In 1994 the Greek government dissolved the insolvent Arab Hellenic Bank at a cost to Greece's Deposit Guarantee Fund of Euro 1.5m in payments to depositors.
The euro is the official currency of 19 of the 27 member states of the European Union. This group of states is known as the eurozone or euro area and includes about 343 million citizens as of 2019. The euro, which is divided into 100 cents, is the second-largest and second-most traded currency in the foreign exchange market after the United States dollar.
The economy of Greece is the 51st largest in the world with a nominal gross domestic product (GDP) of $209.853 billion per annum. In terms of purchasing power parity, Greece is the world's 53rd largest economy, at $336.486 billion per annum. As of 2019, Greece is the sixteenth-largest economy in the 27-member European Union. According to IMF figures for 2018, Greece's GDP per capita was $20,317 at nominal value and $29,072 at purchasing power parity.
Libya, officially the State of Libya, is a country in the Maghreb region in North Africa, bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad to the south, Niger to the southwest, Algeria to the west, and Tunisia to the northwest. The sovereign state is made of three historical regions: Tripolitania, Fezzan and Cyrenaica. With an area of almost 1.8 million square kilometres (700,000 sq mi), Libya is the fourth largest country in Africa, and is the 16th largest country in the world. Libya has the 10th-largest proven oil reserves of any country in the world. The largest city and capital, Tripoli, is located in western Libya and contains over one million of Libya's six million people. The second-largest city is Benghazi, which is located in eastern Libya. The Latin name Libya is based on the name of the region west of the Nile (Λιβύη) used by the Ancient Greeks and Romans for all of North Africa, and was again adopted during the period of Italian colonization beginning in 1911.
Muammar Mohammed Abu Minyar al-Gaddafi, commonly known as Colonel Gaddafi, was a Libyan revolutionary, politician and political theorist. He governed Libya as Revolutionary Chairman of the Libyan Arab Republic from 1969 to 1977 and then as the "Brotherly Leader" of the Great Socialist People's Libyan Arab Jamahiriya from 1977 to 2011. He was initially ideologically committed to Arab nationalism and Arab socialism but later ruled according to his own Third International Theory.
The National Bank of Greece is a global banking and financial services company with its headquarters in Athens, Greece.
Piraeus Bank, is a Greek multinational financial services company with its headquarters in Athens, Greece. Piraeus Bank's stocks are listed on the Athens Stock Exchange (ATHEX) since January 1918.
The Aegean dispute is a set of interrelated controversies between Greece and Turkey over sovereignty and related rights in the region of the Aegean Sea. This set of conflicts has strongly affected Greek-Turkish relations since the 1970s, and has twice led to crises coming close to the outbreak of military hostilities, in 1987 and in early 1996. The issues in the Aegean fall into several categories:
Antonis Samaras is a Greek politician who served as Prime Minister of Greece from 2012 to 2015. A member of the New Democracy party, he was its president from 2009 until 2015. Samaras started his national political career as Minister of Finance in 1989; he served as Minister of Foreign Affairs from 1989 to 1992 and Minister of Culture and Sports in 2009.
Libyan Foreign Bank (LFB) was established in 1972 in Tripoli, Libya as Libyan Arab Foreign Bank; it was renamed Libyan Foreign Bank in 2005. It was Libya's first offshore banking institution licensed to operate internationally. The Central Bank of Libya owns 100% of LFB. The head office is located in Libya's capital Tripoli.
Banque Misr is an Egyptian bank founded by industrialist Talaat Pasha Harb in 1920. The government of the United Arab Republic nationalized the bank in 1960. The bank has branch offices in all of Egypt's governorates, and currency exchange and work permit offices for foreign workers in Egypt.
The Sahara Bank was established in 1964, designed by Italian Vincenzo Maria Morici. On 22 December 1970, a law was passed that demanded that all the foreign banks shares be nationalized and became completely owned by Libya. The Central Bank of Libya owned 82 per cent share of the company. During July 2007, France's BNP Paribas acquired the bank and started managing the operations. BNP pulled out of the operations of the bank in 2011, following revolutions in Libya.
Bank of Khartoum (BOK), with some 111 or more branches, is the largest bank in Sudan. It is also the commercial bank with the oldest continuous history in the country. The largest single shareholder is Dubai Islamic Bank. In 2011 the government of the United States of America lifted its sanctions on Bank of Khartoum. The US Treasury’s Office of Foreign Assets Control posted notice on its website that it had removed Bank of Khartoum from the blacklist, meaning Bank of Khartoum could seek the return of blocked assets and resume limited dealings with U.S. financial institutions. However, in March 2014, several European and Saudi Arabian banks announced that they would cease transacting with Bank of Sudan.
The Union for the Mediterranean is an intergovernmental organization of 43 member states from Europe and the Mediterranean Basin: the 27 EU member states, the United Kingdom and 15 Mediterranean partner countries from North Africa, Western Asia and Southern Europe. It was founded on 13 July 2008 at the Paris Summit for the Mediterranean, with an aim of reinforcing the Euro-Mediterranean Partnership (Euromed) that was set up in 1995 as the Barcelona Process. Its general secretariat is located in Barcelona, Spain.
Land grabbing is the contentious issue of large-scale land acquisitions: the buying or leasing of large pieces of land by domestic and transnational companies, governments, and individuals. While used broadly throughout history, land grabbing as used in the 21st century primarily refers to large-scale land acquisitions following the 2007–08 world food price crisis. Obtaining water resources is usually critical to the land acquisitions, so it has also led to an associated trend of water grabbing. By prompting food security fears within the developed world and new found economic opportunities for agricultural investors, the food price crisis caused a dramatic spike in large-scale agricultural investments, primarily foreign, in the Global South for the purpose of industrial food and biofuels production. Although hailed by investors, economists and some developing countries as a new pathway towards agricultural development, investment in land in the 21st century has been criticized by some non-governmental organizations and commentators as having a negative impact on local communities. International law is implicated when attempting to regulate these transactions.
The international reactions to the Libyan Civil War were the responses to the series of protests and military confrontations occurring in Libya against the government of Libya and its de facto head of state Muammar Gaddafi.
The Arab National Bank (ANB) is a major bank based in Riyadh, Saudi Arabia and listed on the Saudi Stock Exchange. It is among the top ten largest banks in the Middle East and has received an 'A' rank from Standard and Poor's. It has 156 branches in Saudi Arabia. Its largest shareholder is Arab Bank, holding 40% of the fund.
United Arab Emirates corporate law regulates the governance, finance and power of corporations in the United Arab Emirates (UAE) through UAE law. Every emirate has its own basic corporate code.
Immigration to Malta contributed to 4.9% of the total population of the Maltese islands in 2011, i.e. 20,289 persons of non-Maltese citizenship, of whom 643 were born in Malta. Most of migrants in Malta are EU citizens, predominantly from the United Kingdom. The biggest community of non-EU nationals in Malta are the Somalis (1,049). In 2011, 2,279 non‐Maltese nationals were resident in institutional households, particularly in open centres and refugee homes.
The Turkish military intervention in the Second Libyan Civil War is an ongoing military intervention by Turkey in support of the UN-recognized Government of National Accord (GNA) of Libya in the Second Libyan Civil War. Military intervention was approved by the Grand National Assembly of Turkey on 2 January 2020, which passed a one-year mandate to deploy troops to Libya. Turkish military deployments to Libya began on 5 January.
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