Middle East Economic Survey
VOL. LII
No 26
29-Jun-2009
SAUDI ARABIA
Banks Reduce Lending To Privately-Owned Saudi Companies
International banks were taken aback when two large privately owned Saudi domestic conglomerates ran into trouble. Most of their concerns had centered on how the financial crisis would impact Dubai, so when problems emerged with some of Saudis preeminent players Saad Group, whose chairman is billionaire businessman Maan al-Sanea, and Ahmad Hamad Algosaibi & Brothers...
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