VOL. XLI

No. 01

5-January-1998

SAUDI ARABIA

Saudi Deposit Of $600Mn In Lebanon's Central Bank Will Boost Forex Reserves

Saudi Arabia's National Commercial Bank (NCB) and the Saudi Fund for Development (SFD)will place $600mn with the Central Bank of Lebanon, the Lebanese Minister of State forFinancial Affairs, Mr. Fuad Siniora, announced last week in Beirut. Mr. Siniora said thatthe $500mn from NCB and $100mn from SFD which will shortly be transferred to the CentralBank will not be a loan to the...