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Saudi exposure of 30 GCC banks $9.6 bln

Posted on 24 July 2009

From Maktoob.com: A total of 30 Gulf banks have almost $10 billion worth of exposure to the two troubled privately held Saudi conglomerates Saad Group and Ahmad Hamad Al-Gosaibi & Brothers Co, or AHAB, according to new figures released on Thursday from ratings agency Standard & Poors.

In a survey of the region’s top banks, S&P found that total gross exposure to the two family-owned firms stood at $9.6 billion, with those in Saudi Arabia and the United Arab Emirates the hardest hit………..Full Article: Source

 
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