| The GCC (Gulf Cooperation Council) economies which were considered an oasis of calm in the ongoing global financial turmoil, the collapse of Lehman Brothers in September has pushed even the GCC to the looming economic risks, a senior official at the Central Bank of Bahrain (CBB), said.
Rasheed M. Al Maraj, governor of the CBB, who along with Heng Swee Keat, governor of the Monetary Authority of Singapore, jointly opened the 15th Annual World Islamic Banking Conference (WIBC), said: "We have seen a vastly changed financial landscape and there is little doubt that the availability of funds and the costs of borrowing are being affected in all parts of the world."..... Full Press Release: Source
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