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Saad Group’s Awal Bank to restructure debt

Posted on 03 June 2009

From Reuters: Bahrain’s central bank said on Tuesday that Awal Bank, part of the Saudi-based privately held Saad Group, seeks a renegotiation of its debt, and said its issues are not related to the Bahraini banking sector overall.

“The issues connected with Awal Bank are a consequence of events in the wider Al Saad group and are unrelated to the wider Bahraini banking sector, which has otherwise continued to function normally,” the central bank said in a statement……..Full Article: Source

 
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