UAE bankers take stock of uncertainties | GulfNews.com:
"The global economy is facing uncertain times. The economic challenges range from a crash in oil prices albeit a marginal recovery, slowdown of Chinese economy, negative interest rates, drying up of liquidity in GCC markets, US putting brakes after a single hike, currency wars, and “disruptive” developments in global banking arena. Recently, experts have coined a new acronym “VUCA” (volatile, uncertain, complex and ambiguous) to describe the current scenario.
Emirates Institute for Banking and Financial Studies (EIBFS), organized a conference last week titled “Riding on the roller coaster” in which senior bankers and financial experts discussed the impact of the major headwinds in the UAE and global economies. More than 60 top level bankers attended the conference.
Talking about the effect of prolonged lower oil prices on the banking sector, Dr Mondher Bellalah – Executive VP, Chief Risk Officer- United Arab Bank, said it could impact asset quality, drying up of liquidity and the possibility of slower growth in loan book. “The drying up of liquidity in GCC is being reflected in a significant rise in deposit cost across the banking sector,” he said."
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