By Rodney Wilson (auth.)
Read or Download Banking and Finance in the Arab Middle East PDF
Similar banking books
The second one variation of An advent to credits Derivatives offers a wide advent to items and a industry that experience replaced considerably because the monetary difficulty of 2008. writer Moorad Choudhry supplies a practitioner's point of view on credits spinoff tools and the hazards they contain in a succinct variety with out sacrificing technical information and clinical precision.
Taxonomies are usually inspiration to play a distinct segment function inside content-oriented wisdom administration tasks. they're considered 'nice to have' yet now not crucial. during this ground-breaking booklet, Patrick Lambe exhibits how they play an necessary position in aiding firms coordinate and converse successfully.
- The Bundesbank Myth: Towards a Critique of Central Bank Independence
- Credit Scoring, Response Modelling and Insurance Rating: A Practical Guide to Forecasting Consumer Behaviour
- Debt-for-Development Exchanges: History and New Applications
- Foreign Banking and Investment in the United States: Issues and Alternatives
Extra resources for Banking and Finance in the Arab Middle East
Such ideas would have been too far ahead of their time however even for the Misr group to accept, despite it being and important instigator of inter-Arab financial co-operation. 3 Growth of Arab Financial Expertise With the spread of education in the Arab world, especially in the first three decades of this century, many young Arabs started to enter the modern sectors of their own economies. They began to take over some of the jobs which had formerly been carried out by foreigners, either expatriates from Europe serving in the area for short stays, or more permanently resident foreign nationals, such as those living in large numbers in Beirut, Alexandria and Cairo.
There is little doubt that Palmer's venture was of considerable benefit to many in the rural areas, and encouraged the spread of cotton cultivation by smallholders which added to Egypt's export earnings. Not all of the money may have been of course used for productive purposes or even for farming, but those who used their credits as they were supposed to found their cash incomes augmented. Apart from those who gained directly, there were also indirect benefits as moneylenders were forced to lower their interest charges, although others stopped lending altogether rather than reduce their rates.
Special couriers are sent to Switzerland on a regular basis to obtain foreign banknotes and gold to augment the supplies which the moneychangers obtain from the currency changed by foreigners within the kingdom, and that from Saudi citizens returning from abroad. These jet-hopping couriers are in many ways performing a similar function to those who traditionally travelled with the camel trains. The method, however, enables the Al-Rajhis to obtain their currency and gold at more favourable rates than the conventional banks, and as they also act as suppliers to the other moneychangers, they can obtain the standard discounts for bulk purchase.