Qatar National Bank (QNB) Group Chief Executive Officer yesterday called on GCC banks to integrate. Speaking on behalf of Qatari banks at the 10th GCC Banking Conference, Ali Shareef Al Emadi told participants, “Banks in the region are relatively small compared to institutions in many other parts of the world. To overcome this, we must consider integrating the banking sector of the region to not just increase access to markets but also encourage consolidation.”
“This will be a challenge not just for regulators but will also require extensive consultation and deliberation within the region’s financial system to facilitate such mergers and acquisitions,” he said.
He also said that the global financial crisis has brought to light the important and indispensable role of regulatory bodies in maintaining the stability and integrity of the financial sector across the world. He added that this crisis has also brought into sharp view the role of an effective governance system and prudent risk management.
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