Arab Today, arab today gulf banking \has low exposure to euro crisis\
Last Updated : GMT 21:35:56
Arab Today, arab today
Arab Today, arab today

Gulf banking \'has low exposure to euro crisis\'

Arab Today, arab today

Arab Today, arab today Gulf banking \'has low exposure to euro crisis\'

Abu Dhabi - Arabstoday

Fahad Al Mubarak, governor of the Saudi Arabian Monetary Agency (Sama), told reporters that the GCC banking sector is very strong, has low exposure to European banks, and is well capitalised. \"The GCC banks in general and the Saudi banks in particular are strong and there is a high level of coordination among the central bank governors in the region to apply the highest criteria of international regulations,\" Al Mubarak said. He added that in the 2008 financial crisis \"the GCC governments did not bail out any bank in the region because of our strong and strict banking regulations.\" ‘We will be prudent\' Article continues below \"The Mena capital adequacy is well capitalised and our banks are strong enough, which helps our banking and financial institutions to be stable in spite of all global financial and economic challenges,\" he said. \"We also comply with Basel II and III and the banking system in Saudi Arabia is strong and we will be prudent with our regulations and rules to secure and save our economies.\" Salem Al Sabah, Governor of the Central Bank of Kuwait, said that Kuwait as well as other GCC countries are not exposed to the Eurozone crisis. \"Our exposure to Eur-ope is very limited,\" he said, due to rigorous risk and capital management requirements designed to ensure capital reserves appropriate to the risk the bank is exposed to. \"We in the GCC, and particularly in Kuwait, have a high level of liquidity, and we as central banks have absorbed the cash surpluses in the market.\" The two governors were speaking in a press conference following a meeting of the FSB (Financial Stability Board) in Abu Dhabi on Thursday. Financial assistance Al Mubarak lauded the cooperation between the Mena banks and the FSB, which operates as a bridge between governments and regulatory commissions. \"The FSB regulations should apply to the securities market, banks, central banks and insurance companies,\" he said. Asked if financial assistance to states involved in the Arab Spring had been discussed, Al Mubarak said: \"We did not discuss any countries in these meetings. \"We discussed general regulations, and as per Europe, we did not discuss any specific matter related to any country.\" Ready to meet rise in oil demand The Saudi governor told Gulf News that that the \"kingdom is ready to meet any rise in oil demand\". \"Saudi Arabia has a capacity excess of 2.5 million barrels per day,\" said Fahad Al Mubarak, adding that throughout the past year, oil prices had been ‘stable\'. \"We will bring balance to the market in order not to destabilise prices,\" he said. For his part, Salem Al Sabah, Central Bank Governor of Kuwait, said: \"If there is little economic growth in the European market, there will be a decline in demand for oil. \"The time frame for European countries is very important to solve their financial and economic issues,\" he said. \"If growth in the Eurozone\'s economy goes up, demand for oil will increase,\" Al Sabah added.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf banking \has low exposure to euro crisis\ Arab Today, arab today gulf banking \has low exposure to euro crisis\

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday