RIYADH: Saudi National Bank, known as SNB, is all set to invest up to $1.5 billion in Switzerland-based Credit Suisse, as the global investment bank eyes raising capital of $4 billion. According to a statement from Credit Suisse, SNB will use this amount to achieve a shareholding of 9.9 percent in the firm, subject to approval at the Extraordinary General Meeting on Nov. 23,
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Ex ISI chief General Akhtar Abdur Rahman Khan facilitated to funnel billions of dollars in cash and other aid from the United States and other countries to the mujahideen in Afghanistan it was revealed
Switzerland-based Credit Suisse seems to have landed in trouble recently. In a Swiss court on Monday, the investment banking company will face charges of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros. Some of it seems to have been stuffed into suitcases.
According to the Swiss prosecutors, the country’s second-biggest bank and a former relationship manager of the organisation did not take all the required steps to prevent the alleged drug traffickers from hiding and laundering cash from 2004 to 2008.