APICORP established its headquarters in 1975 in Al-Khobar/Dammam, in the Eastern Province of Saudi Arabia following an agreement signed by the ten Member States of the Organization of Arab Petroleum Exporting Countries (OAPEC) in September 1974.
Bahrain Banking Unit
APICORP established its Bahrain banking branch in December 2006 after receiving a wholesale banking license from the Central Bank of Bahrain. The Bahrain branch was created to support the growth and diversification of APICORP’s sources of funding by, among others, collecting corporate and government deposits.
APICORP is developing an asset management service within the branch. After initially supporting the organisation’s activities, the service will be offered externally. Currently the Bahrain office is focused on Treasury & Capital Markets functions.