Syndicated lending by Saudi Arabian banks has more than doubled in 2012 as companies fund projects. “Family-owned businesses or privately held businesses haven’t to a large extent embraced those kind of things like corporate governance and disclosure and transparency,” said Abdul Kadir Hussain, Mashreq Capital’s Dubai-based chief executive officer.
Syndicated lending has slowed overall in the Middle East and North Africa, falling 5 percent this year to $28.5 billion, taking the total below regional bond sales for the first time since 2009. Issuances of sukuk and non-Islamic notes jumped 58 percent to $36bn in the same period, data compiled by Bloomberg noted………………………………………..Full Article: Source