VOL. XL

No. 10

10 March 1997

SAUDI ARABIA

Riyadh Bank May Not Publish 1996 Results

It appears that the new board of Riyadh Bank, one of the largestcommercial banks in Saudi Arabia, is involved in a face-off with the Saudi Ministry ofFinance over the treatment of an estimated SR3bn ($800mn) debt owed to the bank by theKingdom's flag-carrier airline Saudia. The Arabic daily Asharq al-Awsat said on 26February that Saudia has paid SR116mn ($31mn) of what it owed in recent months but that it...