Word: mahfouz
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...last year Americans heard of the labyrinthine lawlessness of the Pakistani Bank of Credit & Commerce International. But unlike depositors shut out in places like Britain and Hong Kong, they felt no real impact. That changed after a New York grand jury indicted Sheik Khalid bin Mahfouz, head of Saudi Arabia's National Commercial Bank, for fraud in connection with the scandal. Last week the Federal Reserve sought a $170 million fine from Mahfouz -- the largest ever from an individual -- for his alleged role in illegally buying a controlling interest in Washington's First American Bankshares from B.C.C.I., and the Comptroller...
...culprits in the Bank of Credit & Commerce International scandal, was broadly aimed. "No participant in the B.C.C.I. scheme, here or abroad, however influential, should expect to escape justice," declared Morgenthau. The D.A. then made good on his threat by delivering a grand jury indictment of billionaire Sheik Khalid bin Mahfouz, CEO of the National Commercial Bank, the largest commercial bank in Saudi Arabia, and a financial adviser to the Saudi royal family, on charges of fraud. Other targets of a criminal grand jury led by Morgenthau include intimates of the royal families of Saudi Arabia and the United Arab Republic...
...which told the story of the 1977 executions of a young married Saudi princess and her lover. Some Muslims have even objected to Children of Gebelawi, a 30-year-old allegorical novel based on the development of the world's great religions, by Egypt's 1988 Nobel laureate, Naguib Mahfouz...
...Mahfouz's untranslated trilogy Al-Thulathiyya (1957) is a 1,500-page family saga that spans 27 years and both World Wars and is read as a microcosm of Cairene society. He supported Gamal Abdel Nasser's 1952 coup d'etat but gradually grew disillusioned with the colonel's policies. "It is true that the revolution liberated the Egyptian people and pushed them into modern life," says Mahfouz, "but it led to many wars that tired us out." Mahfouz found himself at the center of controversy in 1979 when he publicly backed Anwar Sadat's peace treaty with Israel...
Columbia University Press, which normally sells only 200 copies of Mahfouz's work each year, reported receiving 400 orders after last week's announcement. The author too is in demand, but he is unlikely to stray far from his favorite cafes, not even to accept his Nobel and its $390,000 cash prize in December. He is pleading frail health, although Ahmed Bahaa-Eldin, columnist for the newspaper al-Ahram and a close friend, says that he chuckles at the excuse. The Arab world's best-known novelist is, Bahaa-Eldin notes, famous among his friends for his fear...