Saudi fraud case highlights Gulf banking flaws - 22 July 09
- 12 years ago
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.
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.