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Arab Bank is far from the impact of the crisis on Dubai World Group financial position

2009-12-03

Amman - Arab Bank stated that they did not see its granted debts to Dubai World Group to affect its financial position. The bank said in a statement on the website of Amman Stock Exchange that "the debts to Dubai World Group are limited only to its participation in a syndicated loan that was granted to Dubai World UAE with the participation of a large number of Arab and international banks, where the value of Arab Bank"s participation in the loan equivalent to $ 100 million that due in the month of June 2013". The news agency Petra reported regarding the bank statement that "The bank did not manage the loan in question or any loan to another company and this loan is a loan applying under the banking, credit, and proper accounting standards in light of the company"s regularity up to date in paying the accrued interests".