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Bahrain sees slow recovery for banks due to low property prices

Posted on 19 July 2010

From Bloomberg: Bahrain’s Economic Development Board said the recovery of the financial industry, which contributes about a quarter of the country’s gross domestic product, is likely to be slow as low property prices weigh on lending.
“The EDB expects the finance sector to recover only slowly from the downturn,” the government’s advisory group said in its annual report. “Given the outlook for property, wholesale banking is unlikely to expand for some time, and Islamic banking will be more constrained than expected.”………………………………………Full Article: Source

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