The INTERNATIONAL BANKING CORPORATION of Bahrain with SWIFT code IBCBBHBM is under administration. The external administrator is Trowers & Hamlins.
The case is not connected to the trouble of hat Gulf International Bank (GIB) in 2009 due to its investments in complex derivatives and hedge funds. The Gulf International is an investment bank jointly owned by the governments of the six Gulf Arab.
The International Banking Corporation B.S.C.(c) (TIBC) bank is majority-owned by Ahmad Hamad Algosaibi & Brothers (AHAB). AHAB is part of the extense Saudi family. They at the centre of a wider dispute with another Saudi based group of companies, Saad Group.
Trowers & Hamlins also has filed an application in the Courts of New York for an Order compelling the disclosure of key financial information.