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Islamic Finance Briefing - Categorized | Banking, Performance more

Gulf banks remain strong despite jump in bad loans

Posted on 11 February 2010

From Gulfnews.com: Gulf banks are fundamentally strong despite an unprecedented increase in non-performing loans and high provisions witnessed last year, according to a senior Standard Chartered official.

“Governments and central banks in the region have been wise to add money into the banking system in the early days of the financial crisis. With the strong government support the banks have weathered the storm,” Lenny Feder, Group Head of Financial Markets at Standard Chartered Bank, said………………………………….Full Article: Source

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