GCC banks forecast to see 'more pronounced' slowdown | GulfNews.com:
"Banks in the Gulf Cooperation Council (GCC) region will experience more “pronounced” slowdown in 2016 and 2017 due to weak economic environment, a ratings agency said on Tuesday.
S&P Global Ratings Agency issued a report on Tuesday detailing how the current sluggish environment will impact the region's banking sector, particularly the Islamic banks.
As of 2015, customer deposits in Islamic banks already slowed to 9.2 per cent, compared with 16.9 per cent in 2014. The trend is expected to continue this year and in 2017, given that oil price-dependent deposits of government and their related entities account for between 15 per cent and 40 per cent of total GCC bank deposits."
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