Algosaibi family backs down in battle with banks
The Algosaibi family has pulled out of a court case in London with five international banks. The banks that were battling were: Bahrain-based Arab Banking Corporation (ABC), ABC Islamic Bank, British Arab Commercial Bank (BACB), Credit Agricole and HSBC.
The case was expected to last for at least two months and has been waiting since two banks in Bahrain collapsed in 2009.
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