JEDDAH, 21 October 2003 — Efforts are under way to establish a new bank early next year with a capital of SR3 billion by a group of eight companies involved in money exchange, Al-Riyadh Arabic newspaper reported yesterday. It said the companies including Al-Rajhi for Foreign Exchange, Al-Rajhi Trading Est., Al-Subaie Money Exchange and Al-Muqaireen Money Exchange, had agreed to merge.
