NO. 28


Financial and Banking News

Regional Banking

Jordanian Court Sentences Petra Bank Officials

Mr. Ahmad Chalabi, the former chairman and general manager of Jordan's PetraBank, has been sentenced in absentia to 22 years in prison with hard labor. TheJordanian state security court in Amman sentenced 17 other people for their partin fraud and currency violations in connection with Petra, which had to be takenover by the government in August 1989. Mr. Chalabi, who is known...