Expert: Banking system stable despte bourse crashes

Published May 29th, 2006 - 03:57 GMT
Al Bawaba
Al Bawaba

Fitch Ratings projects the the recent crash in Arab stock markets will only have a limited impact on the regional banking system and prospects for economic growth. "My impression is that we are not going to be unduly concerned by the equity market downturn” said Paul Taylor, Group Managing Director at Fitch. "There is still a ton of money coming into the region because of oil. That hasn't changed," he said.