VOL. XXXII

NO. 24

20-MARCH-1989

Financial and Banking News

REGIONAL BANKING

Al Saudi Banque to Be Merged and Renamed

Al Saudi Banque, the Paris-based Arab bank which needed a French governmentrescue last year, is to be renamed Banque Francaise pour l'Orient after beingmerged with Banque Libano-Francaise (France). The merger has been on the cardsever since the Al Saudi Banque crisis last September thrust Banque Indosuez intothe limelight as the government-appointed agent charged with cleaning up the...