VOL. XXXIX

No. 21

19-February-1996

SAUDI ARABIA

Al-Jazira Makes First Profit Since 1992

Following its return to profitability in the third quarter of 1995, Jiddah-based Bank Al-Jazira has announced a small net profit for the year as a whole. The last time the bank announced a profit was in 1992, since when it has been recapitalized and a new management team under Mr. Mishari al-Mishari has been installed. Al-Jazira is the last remaining problem bank in Saudi Arabia in that it has been the...