Gulf banks suffered from a decline in their assets in January for the first time in many months as they struggled to get funds to offset a severe liquidity shortage triggered by the global financial distress, according to official figures.
With the exception of Qatar, which has not yet provided data for January, the combined assets of the banks in the other countries of the six-nation Gulf Cooperation Council (GCC) recorded a drop despite measures by monetary authorities in some members to support the banking sector with cash injections and relaxation of reserve requirements.
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