VOL. XXXI

NO. 23

14-MARCH-1988

Financial and Banking News

REGIONAL BANKING

BIB Rids Itself of KBDC Deal

A loan which had been fully provided for, but which remained on the books forfive years, has finally been written off at Bahrain International Bank (BIB).The loan, made in April 1982 to the Kuwait and Bahrain Development Company (KBDC),has cast a long shadow across BIB's accounts, and, in recent years, causedsome friction at the bank's annual general meetings. KBDC was a company incorporated with...