Growth in the Gulf

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Structured product issuers view the Middle East as a fledgling market in comparison with Europe or even the US. Yet it is relatively sophisticated and centres on products that not only source local exposure, but can also provide a more attractive return than the payouts of the average product found in mature markets.

The size of the market is very hard to gauge, say bankers, particularly as many Middle Eastern clients will be buying structured products that are executed elsewhere. One dealer puts

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