Tuesday 24 November 2015

RPT/MIDEAST DEBT-Gulf banks rush to loan market to cope with liquidity squeeze | Reuters

RPT/MIDEAST DEBT-Gulf banks rush to loan market to cope with liquidity squeeze | Reuters:

"Gulf banks are rushing to raise money via the loan market by the end of the year in a flurry of activity attributed to a liquidity squeeze caused by lower oil prices, banking sources aware of the matter said on Monday.

At least nine institutions, including from Qatar, the United Arab Emirates, Bahrain and Kuwait, are said to be speaking to other banks about raising cash for between one and three years, with processes at various stages.

"It's gone crazy," said one of the sources, who heads loan syndications at one bank in the region. "It's not surprising with all the pressure on liquidity but I can't remember a market like this.""



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