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 19:07 2018 Friday ,14 December
Lebanese PM flags up Saudi investment potential, financial ties
GMT 10:00 2017 Wednesday ,10 May
Police carry out anti-ISIS raids across Germany
GMT 08:29 2017 Thursday ,04 May
Exhibition of AFP migrant
GMT 04:17 2013 Saturday ,12 October
Full executive powers in Syria… and in Lebanon
GMT 15:31 2018 Tuesday ,30 October
Timoshenko speaks out against special status of Donbass, Ukraine’s federalizationGMT 12:48 2012 Friday ,16 March
The 10 Best mother\'s day gifts
GMT 20:51 2017 Friday ,24 February
UNESCO Celebrates International Mother Language Day
GMT 13:01 2017 Monday ,27 February
UAE petrol and diesel prices for March to rise
GMT 07:45 2017 Thursday ,21 September
Saudi Arabia allows women into King Fahd stadiumGMT 18:44 2012 Thursday ,13 December
Ahly to face Monterrey
GMT 09:54 2017 Monday ,02 October
Mideast designers wow Paris
GMT 00:35 2016 Tuesday ,06 December
Magnitude Quake Jolts in China's Tibet Autonomous Region Monday
GMT 16:10 2018 Monday ,05 November
Central Bank of Egypt: Foreign reserves rise to USD 44.501 bln in Oct.
GMT 13:32 2013 Tuesday ,20 August
Egypt\'s stock exchange achieved gains reaching LE 3.5bn today.GMT 17:25 2011 Tuesday ,27 September
World stocks up on Europe debt hope
GMT 02:33 2014 Thursday ,06 November
Zagazig university sacked over Muslim Brotherhood-link
GMT 18:11 2015 Saturday ,27 June
EGP 200m to develop poor villages across Egypt
GMT 23:01 2015 Sunday ,27 September
Mohab Mameesh meets Egyptian expatriates in Geneva
GMT 14:30 2017 Saturday ,28 January
Yemen Could Face Famine in 2017
GMT 11:37 2017 Tuesday ,03 October
Oil outputs witnessed notable increase this month
GMT 09:05 2017 Tuesday ,31 October
AMATO by furne one closes
GMT 10:57 2018 Sunday ,21 January
McDonald to replace Adams as Ireland's Sinn Fein chief
GMT 10:21 2017 Wednesday ,26 April
Palestinian mass hunger strike in Israeli jails ongoing for 6 th dayGMT 00:48 2012 Thursday ,12 January
Calls for donations after water damage at National Museum
GMT 12:48 2017 Sunday ,05 November
Children pick up the basics of programming
GMT 12:10 2017 Sunday ,02 July
Twitter is unhappy with Pacquiao's shocking defeat
GMT 09:50 2017 Sunday ,10 December
Rise up the ladder and give back to society
GMT 18:47 2017 Sunday ,12 February
UNESCO Launches "United with Heritage" Campaign in Sharjah
GMT 11:15 2017 Saturday ,02 September
US govt settles first travel ban lawsuit
GMT 18:01 2017 Monday ,06 November
Blockchain becoming the rage
GMT 12:15 2017 Wednesday ,06 December
Palestinian factions say U.S decision could lead to uprising
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