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Arab Bank says unhurt by exposure to Saudi banks
- Jordan: Tuesday, June 30 - 2009 at 09:43
Arab Bank, Jordan's largest bank by assets, has said in a statement it was exposed to Saudi Arabia's troubled groups Saad and Al Gosaibi, but this would not affect its financial position. But the bank did not given details of what the it said were long-term loans extended to the groups over the course of a relationship spanning 'decades' in exchange for 'cash, real estate collateral, stocks and personal and institutional guarantees'.
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