NO. 21


Financial and Banking News


Oman to Compensate all Local BCCI Depositors; Sale of BCCI Hong Kong Fails

Sultan Qaboos of Oman has ordered that all depositors in BCCI's Oman bankingoperations be compensated for the money they lost as a result of the bank'scollapse. The Sultan's order was announced by Mr. Nur al-Din Nahawi, the GeneralManager of Bank Dhofar al-Omani al-Fransi, which has taken over BCCI'soperations in Oman. He said that balances as recorded on 5...