Saudi Arabia said on Saturday it had made some adjustments to assets denominated in sterling and euros in anticipation of Britain's vote to exit the European Union.
The adjustments were made ahead of the results of the vote as
Bahrainis hold more than two-thirds of jobs in the kingdom’s banking sector – and more are being hired, said Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa.
He said 5,618 employees out of 7,473 were Bahraini in
Qatar’s banking sector is ready to rise to the challenge of financing an expected $100 billion boom in the country’s projects industry until 2022, said the organisers of an upcoming banking summit in Doha.
The Iraqi banking sector is set for significant earnings and asset growth over the next decade driven by a strong macro environment, increasing credit penetration and the improving security situation in the country, a report said.
Higher energy prices and increased hydrocarbons production have provided for large public spending programs, which have increased the asset growth of GCC banks by 11 per cent in 2012 to reach $1.47 trillion, a report said.
European Union governments agreed major sanctions against Iran's banking sector, shipping and industry on Monday, tightening financial pressure on Tehran over its nuclear programme amid foundering diplomacy.
Banks in the Gulf region are expected to show signs of recovery on their balance sheets when they report first-quarter results, though lending is likely to remain muted.
The regional banking sector was badly hit by the onset of the global
The future of the banking industry remains uncertain, but there are a number of long-term catalysts such as the expected demographic shift and the rise of state-directed capitalism that will further shape the global financial sector.
The Bahraini banking sector was the best profit performing one on the Bahrain Bourse last year recording a rise of 49.9 per cent, according to research by Kuwait-based Global Investment House.
Overall the Bahrain Bourse saw its total liste
The United Arab Emirates needs to inject more than 100 billion dirhams ($27.23 billion) into bank deposits to enable an adequate resumption of lending activity, Standard Chartered Bank said.
"We estimate that the UAE needs to inject in exc