“The situation is definitely worse than other crises that Turkey has been through,” said Reza Karim, a London-based credit analyst at Jupiter Asset Management.
ADCB stocks, which gained almost 13 per cent yesterday, remained little changed in early Abu Dhabi trading
Outside Kuwait, the bank has operations in Turkey, Algeria, Iraq and Tunisia.
Chief among the problems is inability of the companies to pay the loan even though some of them are involved in real estate, investment, and automobiles.
Now U.S. authorities are weighing a criminal penalty against Standard Chartered and individual employees, said the people, who requested anonymity to speak about the probe.
The Agreement reflects the commitment of both authorities to support the continuous development of FinTech and innovation to deliver new and enhanced financial services to manage risks better, reduce costs, and increase efficiency.