Middle East Economic Survey

VOL. L

No 13

26-Mar-2007

ALGERIA

Khalifa Bank Executives Jailed In Fraud Case

Fifteen officials from Algerias Khalifa Bank were sentenced last week, receiving jail terms ranging from eight to 15 years for misappropriating account holders money in the countrys biggest banking scandal. The bank was part of the Khalifa Group which also included Khalifa Airways and two television channels. Algerian authorities continue to seek the extradition of the Khalifa Groups head,...