Lib Dem leader Tim Farron calls on London mayor to establish principle before profit and pull £100m of Greater London Authority funds from Saudi Riyad BankThe mayor of London,Boris Johnson, has been pressed not to establish profit before principle after it was revealed that the Greater London Authority has £100m of public money invested in a bank backed by Saudi Arabia.
The GLA treasury has a £2.5bn portfolio of investments in a range of foreign banks, and including £100m in the Riyad Bank,which is 51% owned by the Saudi state.
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Source: theguardian.com