03.06.2009 - Saad Group's Awal Bank to restructure debt

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

Print