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The Financial Markets of the Arab Gulf

Author: Jean Francois Seznec

Publisher: Routledge

Published: 2018-11-13

Total Pages: 216

ISBN-13: 1351059696

Financial markets across the Arabian Peninsula have gone from being small, quasi-medieval structures in the 1960s to large world-class groupings of financial institutions. This evolution has been fueled by vast increases in income from oil and natural gas. The Financial Markets of the Arab Gulf presents and analyzes the banks, stock markets, investment companies, money changers and sovereign wealth funds that have grown from this oil wealth and how this income has acted as a buffer between Gulf society at large and the newfound cash reserves of Gulf Cooperation Council states (Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain) over the last fifty years. By assessing the development of institutions like the Abu Dhabi Investment Authority, the Saudi Arabian Monetary Authority, the Public Investment Fund and the National Bank of Kuwait, The Financial Markets of the Arab Gulf evaluates the growth of the markets and provides a detailed, critical, snapshot of the current form and function of the Gulf’s financial markets. It argues that the markets have been controlled by various state institutions for socio-political reasons. In particular, the Saudi state has used its sophisticated regulatory regime to push for industrialization and diversification, which culminated in the Vision 2030 plan. The UAE, Qatar, Kuwait, Bahrain and Oman have also been strongly involved in establishing modern markets for similar purposes but have done so through different means, with varying results, and each in line with what has been considered their respective comparative advantages. Along with critically surveying these institutions and their role in global finance, the book also presents case studies depicting transactions typical to the region, including the highly profitable documentary credits of commercial banks, the financial scandal of certain financiers and their regulatory arbitrage between Bahrain and Saudi Arabia, a review of the Dubai’s trade miracle, and an assessment of the value and importance of the privatization of Saudi Aramco.

The Financial Markets of the Arabian Gulf

Author: Jean-Francois Seznec

Publisher: Routledge

Published: 2017-11-30

Total Pages: 156

ISBN-13: 1351333674

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Originally published in 1987, The Financial Markets of the Arabian Gulf looks at the importance of finance and the flow of funds to the development of the countries in the Arabian Gulf. Examining in detail the financial markets of Kuwait, Saudi Arabia and Bahrain, the book looks at how each of these markets has developed differently because of the political choices made by each government and how each is faced with different cultural and sociological variables which has influenced future of the financial markets. This book provides a look at the fiber of each of these three Arab Nations in respect of their financial markets.

Financial Markets and Institutions in the Arab Economy

Author: Niḍāl Rashīd Ṣabrī

Publisher: Nova Publishers

Published: 2008

Total Pages: 192

ISBN-13: 9781604561371

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This book aims to trace and point out the recent developments occurred in the Arab Economy in the last two decades, including trends toward integration, liberalisation, and globalisation. This book indicates the most recent changes in the Arab Financial Institutions including banks, insurance companies, pension funds and other financial institutions. There is also the discussion of issues in market stability and efficiency in the light of new Arab environment of stock trading. This book is a comprehensive text covering the Arab Financial Sector.

The Emerging Middle East Financial Markets

Author: Henry T. Azzam

Publisher: AuthorHouse

Published: 2015-08-28

Total Pages: 158

ISBN-13: 150493282X

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The book aims to unravel the potentials of Middle East financial markets, which are spread over a large and wealthy part of the world. These markets are gradually being opened for international investors seeking diversification and rewarding risk adjusted returns. However, opening up to international investors is a necessary but not a sufficient condition to attract institutional money needed to provide depth and professionalism to these markets. Without a cultural shift towards more transparency, better regulations and governance, and the availability of custody, clearance and equity research, up to international best practice, not much institutional money will be forthcoming to the region. Funding sources in the Middle East and North Africa Region are still predominantly channeled through the banking system, with equity and fixed income markets playing a marginal role. While the worlds financial markets show on average a balanced structure of bank assets, stock market capitalization and debt securities, the capital mix in the region is heavily skewed towards bank assets with a share of 58.8%, equities around 34% and debt securities (bonds and Sukuk) 7.2%. Stock markets of the UAE and Qatar have recently been upgraded to emerging market status, which together with Egypt are the only three Arab countries that have selected listed companies featuring in the Morgan Stanley Capital Index for Emerging Markets (MSCI EM). Saudi Arabia has opened its stock market to direct investment by foreign financial institutions in the second half of 2015. The opening of the Saudi stock market is a major positive development for the regions capital markets. The path ahead for MENA finance has become now clearer. The relative weight of commercial banks in the financial system will diminish gradually, and a wider range of financial services will be provided by deeper and increasingly more sophisticated debt and equity capital markets, in line with worldwide trends. Sharia compliant products, such as Sukuk, are expected to continue to grow at double-digit rate to meet the strong demand generated regionally and internationally.

The Arab Gulf Economy in a Turbulent Age (RLE Economy of Middle East)

Author: Hazem Beblawi

Publisher: Routledge

Published: 2020-07-26

Total Pages: 322

ISBN-13: 1000155935

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The shock discovery of oil in the Gulf States thrust them from relative obscurity to the forefront of international finance and politics. It coincided with the breakdown of the international monetary system and the twin food and energy crisis, all of which helped to magnify the impact of the oil price increases. Yet, despite the continuing oil wealth enjoyed by the Gulf States, their economy has suffered some damaging blows in the recent past. The Iran—Iraq War has imposed a heavy burden on the Gulf countries which have contributed huge sums to Iraq. Internally, the Gulf economies have been hurt by the speculative boom generated by the unofficial stock-market in Kuwait which collapsed in the summer of 1982. This book, by an Arab economist long experienced in working in the Gulf economy, reviews the prospects for the region in the light of these external and internal problems and, drawing on the Kuwaiti example, suggests ways in which changes can be made. First published in 1984.

Banking in the Arab Gulf

Author: John R. Presley

Publisher: Springer

Published: 1991-06-18

Total Pages: 172

ISBN-13: 1349107913

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Reflects the state of banking in the Arab Gulf and activity in the region's financial markets. Each chapter examines the development of commercial banking, monetary policy and the role of the central banks, and the role of specialized financial institutions.

Money, Markets, and Monarchies

Author: Adam Hanieh

Publisher: Cambridge University Press

Published: 2018-09-13

Total Pages: 315

ISBN-13: 1108429149

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An original and empirically grounded analysis of the Gulf monarchies and their role in shaping the political economy of the Middle East.

Stock Markets of the Arab World

Author: A. S. Abdul Hadi

Publisher: Taylor & Francis

Published: 2023-05-31

Total Pages: 177

ISBN-13: 1000906736

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First published in 1988, Stock Markets of the Arab World provides a sound description and analysis of the stock market situation in Arab countries and an evaluation of previous attempts at the integration of capital markets. Foreign interest in the oil producing Arab countries has grown due to the accumulation of international reserves. Oil producers are looking for an alternative to their near-term investments in United States Securities through a diversification of their economies. This book argues that these countries could profitably invest these reserves through an integration of their securities markets. It also says that prospects of increased linkages among Arab domestic markets do exist. This is an interesting read for scholars and researchers of Middle East studies, Arab economy and economics in general.

Financial Policies and Capital Markets in Arab Countries

Author: Mr.Saíd El-Naggar

Publisher: International Monetary Fund

Published: 1994-09-15

Total Pages: 116

ISBN-13: 9781557754189

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Recent developments at both the international and national levels - including the globalization of financial markets and the wave of liberalization, deregulation, and privatization- have pushed the issue of financial markets to the forefront of the development agenda. This book, edited by Said El-Naggar, comprises the proceedings of a seminar held in Abu Dhabi in January 1994. It provides a comprehensive analysis of various aspects of capital markets in general and particularly in the Arab countries.