Despite being based in a region prone to disruption, Gulf Co-operation Council (GCC) banking systems have remained remarkably stable, S&P Global Ratings has said in a report. In its latest report, S&P Global Ratings noted the largest funding item – private domestic deposits – has increased year-on-year over the past three decades despite a series of disruptive regional events, including Yemeni civil wars, the Arab Spring uprisings, the Iraq War, and several Houthi missile attacks. Only the 1990 Gulf War led to a decline in private sector domestic deposits and, while external funding has proven less stable, related withdrawals has only been temporary. “To test this resilience, we analys
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