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S&P: If Mideast Conflict Escalates, Gulf Banks May Face USD307B Deposit Outflow
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If the Middle East conflict escalates, Gulf banks could face a deposit outflow of as high as US$307 billion, S&P Global Ratings said. Currently, there are no signs of large-scale outflows of foreign or local funds from banks in the Gulf, the report added. However, if the conflict becomes prolonged, it may trigger 'flight to quality' between banks within the same financial system, as well as a broader withdrawal of external and local funding. AASTOCKS Financial News Website: www.aastocks.com |
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