Saudi banks have no financial exposure to NMC Healthcare, says Talaat Hafez

There is no exposure, relationship or any other financial affiliations between Saudi banks and NMC Healthcare, Al-Eqtisadiah newspaper reported, citing Talaat Hafez, Secretary General of the Media and Banking Awareness Committee of Saudi Banks.

According to data compiled by Argaam, NMC Health recently announced the group’s debt reached around $6.6 billion, including convertible bonds worth $360 million and sukuk worth $400 million.

NMC Health is a UAE-based company and operates in 19 countries, including Saudi Arabia. It was listed on the London Stock Exchange in 2012.

Saad bin Abdul Mohsen Al-Fadly, CEO of Hassana Investment Co., the investment arm of The General Organization for Social Insurance (GOSI), confirmed that all announcements related to violations and investigations are strictly related to NMC Health, noting that NMC Saudi Arabia performs its business normally, being an independent financial and administrative company.