VOL. XLVI
No 13
31-March-2003
ALGERIA
Khalifa Group Status Unclear After Receiver Appointed For Banking Operations
The status of Algerias Khalifa Group remains unclear after the Algerian Government, in a move which some said was long overdue, appointed a receiver on 3 March to manage El Khalifa Bank. The banking operation is reported to account for 55% of the companys turnover, with Khalifa Airways and other interests making up the remainder. The bank was alleged to be illegally channelling money...
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