Abu Dhabi’s banks are posting stronger earnings than Dubai’s as lending in the United Arab Emirates’ capital increases and the highest provisions in more than a year curb profit for Dubai lenders.
The pace of Kuwaiti bank lending is slowing this year as delays on government projects and loan defaults by local investment companies hamper demand for debt in OPEC’s fifth-biggest oil producer.
Morocco plans this year to allow Islamic banking for the first time as the only North African nation with an investment-grade rating at Standard & Poor’s seeks to tap the $1.7 trillion industry.
A U.K. court ruling involving Kuwait- based Investment Dar Co. and Lebanon’s Blom Bank SAL will heighten the “operational risk” for Islamic finance transactions, said Moody’s Investors Service.
The Federal Reserve and four other U.S. financial regulators said they agreed to coordinate supervision of federally insured banks with assets exceeding $10 billion under the Dodd-Frank Act in a move that will tighten supervision.
"Saudi banks enjoy a very low cost of funds and despite the low interest rate environment make good margins on lending."
- Khalid Howladar on Nov 17, 2014