VOL. XLI

No. 30

27-July-1998

UAE

BCCI Creditors Receive Second Payout

The liquidators of the collapsed Bank of Credit and Commerce International (BCCI),Deloitte and Touche, announced on 21 July that UAE-based depositors who have completed thenecessary formalities have started to receive a second payout of 21.5% of their deposits.The first payment, made in 1996, gave depositors who had claims not exceeding Dh20,000($5,445) full payment, while those with higher amounts received 24.5% (MEES, 20...