05.10.2009 - Saudi Arabia - Side deals risk Gulf’s reputation in global banking
From Globalarabnetwork.com: Recent reports that the Saad Group owned by Maan Al Sanea has reached some sort of debt settlement with Saudi banks is a matter of hope, but also of concern for international banks. The fact that one of the parties in the massive dispute between two Saudi family groups is now beginning to reach some settlement on their debt is of course encouraging, as the dispute has cast a shadow on bank relationships with family-owned businesses and caused uncertainty in the vital financial sector of regional economies..................Full Article: Source