Iran Accord Gives Hope to World’s Largest Islamic Banking System - Bloomberg Business:
"Few people are likely to be counting on a successful conclusion to Iran’s nuclear agreement more than the country’s bankers.
Sanctions and loose monetary policy under former President Mahmoud Ahmadinejad led to the highest level of bad loans in the Middle East after Libya and Yemen, the latest International Monetary Fund data show. An end to economic isolation would allow some banks to tap foreign funding and bolster government revenue enough to rescue troubled institutions.
“The banking sector is not in terribly good shape after some of the more aggressive policies of the last decade,” Emad Mostaque, a London-based strategist at research company Ecstrat Ltd., said by e-mail. “A nuclear deal would be a huge positive to the overall economy and local banks.”"
'via Blog this'
No comments:
Post a Comment