NO. 41


Financial and Banking News

Regional Banking

US Comptroller of Currency Closes NCB's New York Branch

The US Comptroller of Currency has closed down the New York branch of SaudiArabia's National Commercial Bank (NCB), following the indictment of its formerchief operating officer, Mr. Khalid bin Mahfouz, by the New York district attorney and the issuance of a civil suit by the Federal Reserve Bank. TheComptroller's office said that it was concerned by the allegations in...