Goldman Sachs has bought a claim against The International Bank Corporation (TIB...
DUBAI - Goldman Sachs has bought a claim against The International Bank Corporation , a Bahraini bank whose default 10 years ago triggered the biggest financial crisis in Saudi Arabia, three sources familiar with the matter said.
Although it snubbed a Saudi investment conference last year following the disappearance of journalist Jamal Khashoggi, Goldman Sachs has since won a slew of mandates in the kingdom, including a lead role in Saudi Aramco’s debut international bond. TIBC, administered by Bahrain’s Central Bank, has a claim of around $3 billion against AHAB, a TIBC spokesman said, while more than 60 banks that have lent money to TIBC remain unpaid.
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