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At present Matt Ryan Womens
Jersey , what is the level of constraint on intra-bank lending?

AZZAM: The impact of the international crisis on us is clearly going to be
noticeable. We are all connected; what happens in Europe and the USA affects the
Middle East and the rest of the world. Because of the inter-linkages and the
connection between banks, if banks in the major European countries become risk
averse, or tight on liquidity, they would not be able to place funds abroad, and
would not have the appetite to finance existing maturing debt for countries in
the region. So I would expect that countries that need to refinance would find
it more difficult because of the international banks lack of willingness and
ability to do so. There might be situation where intra-bank lines will be
affected if banks in Europe are also experiencing tight liquidity conditions
then the surplus funds they would normally deposit through the intra-bank market
to other banks will be less. This is a global market Devonta
Freeman Womens Jersey , but different counties and different banks
will feel it differently. Those who depend more on retail deposits will feel it
less. Those who are wholesale banks, whose major deposit base is the intra-bank
market, they will feel the heat. For example, GIB and ABC in Bahrain, these are
wholesale banks without retail branches in the region – they depend a lot on the
intra-bank market and they will feel it more than a bank like NBAD or ADCB or
National Bank of Kuwait or NCB Calvin Ridley
Womens Jersey , those are banks that are dependent more on branches
and retail deposits. So it varies from one bank to another and it varies by
countries as well.

How will this region specifically be affected by the international crisis in
comparison to the rest of the world?

AZZAM: We have a different set of problems in the region than the problems
banks in Europe, the USA or the Far East are facing. In Europe, we are seeing
huge exposure to markets in Southern Europe and Greece. There are non-performing
loans for which they need to take provisions, they need to recapitalize, and
there are problems with the Euro. We do not have these problems; we have minimal
exposure to Greece and minimal exposure to Southern Europe. We are affected
indirectly because the feeling of risk averseness has become wide spread. People
are looking at what’s happening in Europe Julio Jones Womens
Jersey , they see the contraction, they see the high risk there;
they will be affected. I cannot think of many businesses that are expanding
today or going to the bank to seek additional credit to expand because people
are becoming more worried and more risk averse. People do not want to expand
right now and they are delaying decisions, not because of inherent conditions,
but more because of the contagion with the international situation.

The connection between our region and the international market is always
through the oil market. If, for example Ito Smith Womens
Jersey , the crisis in Europe blows up and we go into another dip
or another recession, then clearly this will impact world demand for oil, more
so if it affects the emerging countries. So we are affected through the oil
price. We are affected through the exchange rates because our currencies are
pegged to the dollar, and whatever happens to the dollar vis-?-vis the Euro and
other currencies will affect us. We are also affected through the capital
inflows, and through flow of people Deadrin Senat
Womens Jersey , whether tourists or businessmen. We are a part of
the global economy. We have a different set of inherent problems that we need to
adjust to that the central banks in the region are actively managing. For
example, the requirements on banks to raise more capital and make provisions for
non-performing loans. It is unlikely that we will have additional non-performing
loans because of what is happening in Europe. Most of the banks in the region
are well provisioned and they will keep on taking more of their profits as
provisions going forward, I would say within the next 2-3 years the real estate
problem will be solved and the banks will be on a stronger footing than they
were before.

Where are banks currently most keen to invest in the UAE today?

AZZAM: The most important sector where banks are active in financing projects
has been and will continue to be oil and gas. Anything related to oil and gas,
including petrochemicals, construction Isaiah Oliver
Womens Jersey , steel related, cement related, etc. These are the
sectors that will continue to boom and generate opportunities for banks. Banks
are very keen on any petrochemical related projects because it is a competitive
advantage of the UAE and the region. The UAE’s competitive advantage is oil,
petrochemicals. As we move from Abu Dhabi to Dubai, the emphasis would be on
transport Authentic Tevin
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away from the usual construction of building and other real estate related
projects Authentic Duke
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projects.

Do banks in the UAE follow particularly seek out opportunities in line with
government visions?

AZZAM: Banks are mostly profit oriented; they are looking at opportunities
where the private sector is active. It is not a centralized economy here in the
UAE, it is not like in China where there is a central agency that decides
everything and pushes banks to implement it. Here, banks react to market
requirements. If the contractors who are working on fulfilling the government
vision would require certain financing from banks and the projects make sense,
then yes, there would be a common ground whereby the banks would finance them
and provide the credit needed. But if you look at it from the perspective of the
banks Authentic Austin
Hooper Jersey , who need to protect their depositors first and
foremost, they would respond to the private sector more than the public sector.
Whether the private sector is in sync with the government, I am not so sure. The
government has a grand scheme. They have proven that they have a vision; they
saw things and they fulfilled them, but without thThe firs. Cheap Nike
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