NO. 42


Financial and Banking News


Abu Dhabi Goes on the Offensive

The angry statement by the majority shareholders of BCCI has focusedattention on two key issues relating to the closure of the bank by regulatoryauthorities on 5 July. First, Abu Dhabi disputes the need to close the bank, asserting that the shareholders had already shown theircommitment to rootingout the bank's problems and providing as much money as might be required to makeit solvent. Second, Abu Dhabi...