Funds may be pulled from Doha banks
Saudi Arabia, the UAE and Bahrain may withdraw as much as $35 billion from the banking sector
Dubai - Egypt Today
Business circles in the Gulf regioGulf n anticipate Saudi, Emirati and Bahraini banks may receive official guidance to pull out deposits and interbank loans from Qatar if it fails to act on the demands of the Arab nations.
Saudi Arabia, the UAE and Bahrain may withdraw as much as $35 billion from the banking sector - this is about 20 per cent of the annual GDP of Qatar if a decision is taken to cut off financial ties with Doha, according to a Bank of America-Merrill Lynch report.
The local banking system in Qatar is largely dependent on foreign currency with the Qatar Central Bank data showing that non-residents accounted for 24 per cent of total deposits in 18 lending institutions in the country last April. The share of non-resident deposits is just 1.2 per cent in Saudi Arabia and 12 per cent in the UAE, says a Bloomberg report.
Meanwhile, the UAE Minister of State for Foreign Affairs, Dr Anwar Gargash, tweeted: "We pray that the extension sought by the Kuwait Amir is an opportunity for a sound review and a good decision by brother Qatar. The alternative is difficult for all of us."
source: Khaleejtimes
- Monday ,09 October GMT 09:16 2017 Emirates NBD Dubai Economy Tracker: September data signals improvement in business conditions in Dubai’s
GMT 14:31 2018 Friday ,19 October
DP World sees key role for once-isolated state in port strategyGMT 12:48 2018 Tuesday ,11 September
UAE gold prices fall further, now Dh17 cheaperGMT 17:52 2018 Wednesday ,10 January
Union Properties close to Emicool saleGMT 09:16 2017 Monday ,09 October
Emirates NBD Dubai Economy Tracker: September data signals improvement in business conditions in Dubai’sGMT 18:28 2017 Friday ,25 August
Dubai-Hong Kong trade given fresh momentumRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 18:25 2016 Wednesday ,16 March
Ministry of Foreign Affairs and International Cooperation hails co-operation and partnership ties with EU
GMT 10:04 2019 Monday ,19 August
Live a tense and noisy atmosphere
GMT 08:45 2017 Saturday ,15 April
Foreign Minister Receives WTO Delegation
GMT 17:56 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 million
GMT 08:14 2017 Saturday ,12 August
Belgium's giant omelette festival aims
GMT 13:42 2017 Sunday ,17 December
26 dead from landslides after Philippine storm
GMT 05:32 2017 Saturday ,29 April
Al Faisaliah voted ‘Best Business Hotel in Riyadh’
GMT 15:53 2016 Sunday ,22 May
PEX Report: Index Down at start of week trading
GMT 16:59 2017 Wednesday ,22 March
UAE v Japan: Mahdi Ali has selection headaches ahead of 2018 World Cup qualifier
GMT 12:39 2015 Sunday ,18 October
Surgery made me feel connected to other women
GMT 12:56 2017 Thursday ,23 November
UAE Inaugurates Digital Archaeology Exhibition
GMT 07:27 2019 Tuesday ,20 August
Think of a new strategy and give you a variety of possibilities
GMT 18:56 2014 Tuesday ,15 April
Gambia bans flights from Ebola-hit nations
GMT 04:03 2017 Tuesday ,09 May
’Baahubali 2’ becomes India’s highest-grossing movie
GMT 08:35 2018 Saturday ,20 January
Amazon's indigenous people 'never so threatened': pope
GMT 09:09 2017 Thursday ,21 September
Kagawa leads Dortmund 'fire engine' back
GMT 13:18 2013 Saturday ,13 July
Surya Brasil launches treatments for dyed and damaged hair
GMT 09:22 2017 Sunday ,05 March
UAE insurance snag for electric vehicles over repairs
GMT 13:20 2017 Monday ,14 August
53 ships transit Suez Canal
GMT 22:46 2016 Sunday ,10 April
Strong earthquake hits Afghanistan, Pakistan, India, casualty not reported yet
GMT 14:47 2018 Monday ,19 November
Terrorists’ infiltration attempts towards military posts in Hama Countryside foiled
GMT 11:05 2018 Sunday ,28 October
US builds up arsenals in Europe to deter Russia
GMT 12:50 2018 Wednesday ,19 September
Huawei sees over 100% growth in UAE smartphone sales
GMT 09:43 2017 Saturday ,08 July
Abbas offers condolences to Sisi over victims of Rafah terror attack
GMT 21:06 2017 Wednesday ,26 July
German army helicopter crashes in Mali
GMT 18:26 2017 Wednesday ,08 February
Shoukry due in Jordan to convey Sisi's message to monarch
GMT 04:15 2017 Monday ,08 May
Mercenaries killed in Jawf
GMT 12:31 2015 Sunday ,18 January
INU, the smart, high-end electric scooter
GMT 11:46 2017 Wednesday ,01 March
NBAD given green light to expand euro note programme
GMT 18:30 2016 Tuesday ,06 December
Hilton Worldwide introduces Laureate Jeddah College students to hospitality careers
GMT 14:14 2016 Friday ,23 December
Russia loses sporting events as federations act
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor