The financial exposure of Bahrain's banks to Dubai World amounts to about $281 million and is less than 1% of total assets, Bahrain's central bank governor said Monday.
"All of the local banks are exposed," Rasheed Al Maraj told reporters on the sidelines of a conference in Bahrain.
Al Maraj said Dubai World's planned restructure is a "normal" event and that he remains confident about the economic fundamentals of the Gulf Cooperation Council, or GCC, region.
Dubai World late last month surprised investors by asking for a debt standstill, roiling global financial markets on fears of a default.
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