The British Bankers’ Association (BBA) has written to the government requesting it to help solve a financial dispute in Saudi Arabia which is threatening the profits of UK banks.

Two Saudi firms, Saad Group and Algosaibi are embroiled in a complex legal dispute and owe more than $20 billion (£12 billion) to more than a hundred banks.

The letter was dispatched to trade minister Lord Davies of Abersoch, and said: "The Saudi authorities have refused repeated requests by international banks to help. The Saudi authorities maintain that this is a private family feud."

If the British banks are unable to recoup their assets, this could have a negative impact on the number of places available on finance graduate schemes.

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