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    Saudi fraud case highlights Gulf banking flaws - 22 July 09

    Repost
    Al Jazeera English

    by Al Jazeera English

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    Two of Saudi Arabia's wealthiest families are battling each other in a New York court over claims that one side stole $10bn from the other.

    The fraud case has highlighted the lack of transparency in doing business in the Gulf, where banks are blamed for lending money to wealthy families almost solely on reputation.

    Hashem Ahelbarra looks at the fallout for businesses in the region.