The private banking sector in the Middle East and Africa may grow 6.6 percent a year to reach $6.1 trillion in value in 2016 as the gross domestic product of oil-rich countries in the region continues to expand, a study from Boston Consulting Group, BCG, shows.
The consultancy firm’s forecasts are higher than the region’s actual performance in 2011, when the Middle East’s market for the ultrarich slowed to 4.7 percent to reach $4.5 trillion, largely due to the political upheavals………………………………………..Full Article: Source