These are exciting times for the nations of the Gulf Cooperation Council (GCC), as the decline in oil revenues is forcing them to finally make dramatic changes to their oil-based economies.
Global Finance magazine profiles the best Islamic Financial Institutions of 2016
Bank of Tokyo-Mitsubishi UFJ is learning to speak Arabic.
Despite tightening liquidity in the Gulf banking sector, Bahrain’s largest lender reported robust profits in 2015. After leading a slew of product launches, AUB’s group CEO and managing director believes the bank’s prudent risk management will underpin its expansion. He spoke to Global Finance at the bank’s headquarters in Bahrain.
By any measure QNB has major ambitions. It is the largest bank in Qatar and one of the leading financial institutions in the Middle East and Africa. It does not stop there. QNB has set its sights on becoming a global bank by 2030. QNB’s group chief executive discusses with Global Finance the regional downturn, success in Africa and its plans for a global presence.
Global Finance’s list of Who’s Who in Middle Eastern finance
The Middle East is no stranger to political and economic uncertainty, but simmering religious and political tensions and stubbornly low oil prices have dealt the region a difficult hand. The question now is: How will countries play in order to win?
Project financing is booming in Saudi Arabia, which leads the Middle East in deals, with a total of eight in 2015, worth more than $13 billion.