ALERT 98-31
Type: Unauthorized Banking
Subject: Al-Manaf International Merchant Bank, Inc.
Date: September 22, 1998

TO:  Chief Executive Officers of all National Banks; all State
     Banking Authorities; Chairman, Board of Governors of the
     Federal Reserve System; Chairman, Federal Deposit Insurance
     Corporation; Conference of State Bank Supervisors; Deputy
     Comptrollers (Districts); Assistant Deputy Comptrollers;
     District Counsel and Examining Personnel



RE:  Al-Manaf International Merchant Bank, Inc.
     1819 Pauger Street
     New Orleans, LA  70126

Information has been received that the subject entity may be
operating a banking business in the United States without
authorization.  The subject entity is not authorized to conduct a
banking business in the State of Louisiana.  The Commissioner of
Financial Institutions has issued a cease and desist order.

Any information which you may have concerning this matter should
be brought to the attention of:

                    Office of the Comptroller of the Currency
                    Enforcement & Compliance Division
                    250 E Street, SW
                    Washington, DC   20219
                    Fax (202) 874-5301 


                                                    
Daniel P. Stipano
Director
Enforcement & Compliance Division