Ma'an Al-Sana'a

Over six months ago, several creditors (banks) around the world announced their exposure to SAAD group especially to the SICL the financial unit of that group registered on Cayman Islands somewhere on the Caribbean owned by Saudi Billionaire Ma’an Al-San’a. Yet, he dragged his in laws (his wife’s family) al-Gosaibi group into a dirty sum of loans.

Day after day passes by and the Saudi officials at SAMA are denying to comments anything toward this problem.

Besides, All banks in Saudi have not announce or comment any exposure relating to the total debt amounts that are claiming these two family groups. The rumors and turmoil continued increasingly between the investors since SAMA did not want to speak and inform these people about what is exactly going on! Suddenly, SAMA has freeze down all SAAD group assets in Saudi and few Continue reading →