Financial and Banking News

REGIONAL BANKING

ABC's Saudi Warns of Arab Debt Crisis 

The Chairman and Chief Executive of Arab Banking Corporation (ABC), Mr. Abdullah Saudi, last week warned a symposium of the Union of Arab Banks held in Vienna that "the major Arab banks face their largest challenge and simultaneously great opportunities in forestalling a looming Arab debt crisis over the next few years." Mr. Saudi estimated the total volume of Arab debt at between $60bn...