NO. 21

26 FEBRUARY 1990

Financial and Banking News

Investment Activities

Kuwaiti Investors May Lose Out in Drexel Bankruptcy

A number of Kuwaiti financial institutions are likely to lose substantialsums as a result of the declared bankruptcy of the US investment bank, DrexelBurnham Lambert. The British Virgin Islands-registered Societe Arabed'Investissement et de Financement (SAIF), which had end- 1988 equity totalling$127mn, is reported to own about 17% of Drexel, which has debts of...