Financial and Banking News
Five Saudi Banks Stayed Out Of $1.3Bn Defense Loan
Five Saudi banks did not participate in the $1.3bn defense loan, signed on 14April: Al-Rajhi, Arab National Bank (ANB), Saudi Investment Bank (Saib), UnitedSaudi Commercial Bank (USCB) and Bank al-Jazira. Saib and USCB had loans tocustomer deposits ratios of 67.02% and 67.00% respectively at the end of 1993,well in excess of the Central Bank guideline of 60%. (Saudi...