Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

SAUDI ARABIA

Trowers & Hamlins Files $720Mn Forex Claim Against AHAB

UK-based law firm Trowers & Hamlins has filed a $720mn foreign exchange claim against Ahmad Hamad Algosaibi and Brothers (AHAB) with the Saudi Arabian Monetary Agency (SAMA), it said on 17 June. The action is over money owed to The International Banking Corporation (TIBC), a Bahrain-based bank owed by AHAB. Trowers & Hamlins was appointed as external...