Societe Arabe Internationale de Banque (S.A.I.B.) was established as Egyptian Joint Stock Company in 1976under the investment law no. 230/1989, amended by law no. 43/1994, and replaced by its turn by law no. 8/1997. The Bank carries out all banking operations in both local and foreign currencies as well as finances external and internal trade through its branch network. The Bank’s authorized capital currently stands at US$150 million, of which US$120 million is paid-in and distributed over 12 million shares at a par value of US$10 per share. As of September 30,2007, the total assets reached US$ 1.3 billion and a net worth of US$161 million.