Middle East Economic Survey
VOL. LII
No 24
15-Jun-2009
SAUDI ARABIA
AHAG Says Irregularities Indicated In Financial Operations
Ahmad Hamad Algosaibi & Brothers Company (AHAG), which is undergoing a restructuring after a subsidiary (The International Banking Corp TIBC) defaulted on its obligations (MEES, 8 June) announced on 11 June that a review of operations, although in the early stages, had uncovered strong evidence of substantial financial irregularities at its financial services arm. The...
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