UAE banks lead the GCC banking sector in raising funds abroad through Euro Medium Term Notes (EMTN) and bond issues, Khaleej Times has reported. According to fresh industry statistics, during the past two years the majority of EMTN issues from the GCC were coming from the UAE. While a total of 14 issues from the region raised Dh29 billion ($8 billion), 7 UAE banks accounted for Dh18.5 billion. The paper said booming economy and the widening asset liability gap have forced many UAE banks to look for longer term debt financing.
Al Bawaba
