Financial and Banking News

THE ARAB BANKS AND THE 'CITICORP EFFECT'

As the shock waves of Citicorp's bold decision to take provisions of $3bn to cover LDC debt write-offs continued to be felt throughout the international financial community, the principal Arab bank lenders to developing countries looked to their regulatory authorities last week for any signals that they may be required to take similarly dramatic steps. Some of the principal Arab players in this market are the...