Despite the drop in wealth seen in the region, private bankers are optimistic about the GCC.
According to Douglas K Schaenen, Vice-President, BNY Mellon International Wealth Management, the bank has seen more enquiries regarding their wealth management services than ever before.
The increase in the number of private banks in the region is also offering a wider choice to the wealthy individuals. Hussain Al Qemzi, Group CEO, Noor Islamic Bank sees the fallout as a great opportunity for Islamic banks.
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