The UAE is taking measures to deal with bank loans made to Saudi Arabia’s troubled Saad and Al Gosaibi groups, as central bank governors warned that lenders across the region could be owed money by the two family-run conglomerates.
The Central Bank plans to publish information about bank lending to the two companies as “soon” as they move to restructure their debt, the governor, Sultan al Suwaidi, said yesterday.
“We are dealing with it. Everybody is concerned,” Mr al Suwaidi told reporters at the Arab Monetary Fund in Abu Dhabi.
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