Saudis prefer foreign banks
A recent survey among 50 business executives in the Kingdom of Saudi Arabia revealed that 90 percent of Saudis would not hesitate to transfer their funds from Saudi banks to foreign institutions, reported Al-Hayat .
A Saudi law was passed in 1997 permitting banks from Arabian Gulf states to open branches in Saudi Arabia. 100 percent of those interviewed claimed that the priority of Saudi banks is to maximize their own profits rather than satisfy their customers. — (menareport.com)
© 2001 Mena Report (www.menareport.com)