Bahrain's central bank governor has rebutted concerns expressed by ratings agency Moody's Investors Service about Bahrain's financial sector, stressing that the country's retail banks have seen "no major outflows."
Discussing Moody's recent move to downgrade Bahrain's sovereign credit rating to Baa1 from A3, Rasheed Al-Maraj told Dow Jones Newswires and The Wall Street Journal that the Gulf country's economy is sound.
He added that its financial resilience is reinforced by the backing of its regional neighbors, most notably Saudi Arabia, which along with member GCC states threw Bahrain a $10 billion lifeline earlier this year as political unrest spread through the country.
No comments:
Post a Comment