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Capital Market Trends in the Gulf Cooperation Council Countries Oct 02
Standard & Poors, Oct 2002
Abstract
The governments of the Gulf Cooperation Council (GCC) countries--the Kingdom of Bahrain, the State of Kuwait, the Sultanate of Oman, the State of Qatar, the Kingdom of Saudi Arabia, and the United Arab Emirates (UAE) (see table)--have embarked on capital market reforms, but with varying degrees of conviction and vigor. This reflected the different initial conditions in each of the six GCC economies, and the differing interpretations and enforcement of the principles of Islamic law ('sharia') that relate to finance. Developments in Saudi Arabia have been relatively slow. By contrast, the government of Dubai has moved with characteristic speed, unveiling the Dubai International Finance Centre on Feb. 16, 2002, while Bahrain announced the establishment of an International Islamic Financial Market...
Companies mentioned in this report are: Gulf International Bank B.S.C.,National Bank of Kuwait S.A.K.,Oman (Sultanate of),National Commercial Bank (The),Qatar (State of),Emirates Bank International PJSC,Kuwait (State of),BankMuscat S.A.O.G.,Bahrain (Kingdom of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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