By Souhail Karam
RIYADH, Sept 1 (Reuters) – The head of the Saudi central bank said on Tuesday the financial troubles of two private conglomerates could hurt the profits of the banks involved but posed no systemic risk to the nation’s banking system.
Saudi central bank says system safe from Saad, Algosaibi problems
Cayman court freezes $9.2 bln of Saad assets
By Tom Freke and Souhail Karam
LONDON/RIYADH, July 31 (Reuters) – A Cayman Islands court has frozen $9.2 billion of assets belonging to Saad Group, the Saudi Arabian investment firm at the centre of a financial storm, including some of its equity stakes outside the Gulf.
EXCLUSIVE – UAE central bank tells lenders to raise provisions over Saad, Algosaibi
By Stanley Carvalho
ABU DHABI, July 23 (Reuters) – The United Arab Emirates central bank has directed banks to take provisions over a two-year period of up to 75 percent of their exposure to a pair of troubled Saudi firms, bankers told Reuters on Thursday. (more…)
-
Author Profile
-
