24.07.2009 - Saudi exposure of 30 GCC banks $9.6 bln
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