Middle East maelstrom

Middle East maelstrom

dean-rowan

Two factors helped insulate the Islamic banks of the Middle East from the initial onset of the financial crisis: the sharia prohibition on interest-bearing investments meant they could not hold toxic mortgage-backed securities, while many institutions were more reliant on local funding than on the international wholesale market, enabling them to avoid the crippling liquidity squeeze.

They haven’t been shielded from the subsequent global recession, however, and plunging property prices have hit

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: