Financial and Banking News


Default Declared for Prominent Kuwaiti Banker 

A ruling by the High Court in London on 9 July has declared a prominent Kuwaiti banker, Mr. Husain Maki al-Juma', in default on payments worth $73,975,233 which he owes to a syndicate of mainly Bahrain-based banks. The banks involved provided Mr. al-Juma' with an $80mn syndicated loan in October 1981 for which Al-Bahrain Arab African Bank (Albaab) acted as agent and which included Bank...