VOL. XXXVIII

NO. 37

12-JUNE-1995

RegionalBanking

BankAl-Jazira's Provisions Insufficient To Cover Loan Losses

TheArabic daily Asharq Al-Awsat reported on 5 June that the general meeting of theSaudi Bank al-

Jazirahad decided to transfer more than SR415mn ($111mn) from its statutory andgeneral reserves

sincethe specific provisions made against its accumulated bad debts were provinginsufficient. The

newspaperquotes the President of the bank's management committee, Mr. 'Abd al-'Aziz 'Abdal-Qadir as...