VOL. XLII

No. 24

14-June-1999

SAUDI ARABIA

Prince al-Walid Says Resignations Not Connected To Merger

Prince al-Walid ibn Talal, the president of the board of theUnited Saudi Bank (USB), on 2 June told the Arabic daily Asharq al-Awsatthat the resignations which had been tendered by several employees of the bankwere normal and unrelated to the recent merger with Saudi American Bank(Samba). The merger has been approved by the respective boards of the two banksand is now awaiting the agreement of...