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Saudi exposure forces banks to slow lending

Posted on 09 July 2009

From Business24-7.ae: The ongoing financial crisis followed by the Saad-Algosaiby multibillion-dollar crisis involving almost all the ‘who’s who’ in the region’s banking industry, are bound to force the banks to go slow on their lending for some time, said leading bankers.

Incidentally, the default crisis of the Saudi duo is exactly a decade after the billion-dollar Madhav Patel scam shook the GCC’s banking industry in 1999………Full Article: Source

 
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