Middle East
Firm foundations hold steady
Ali Shareef Al-Emadi, group CEO, Qatar National BankA swift government response to the international meltdown coupled with an economy based around strong fundamentals mean that Qatar's banking system is emerging from the financial crisis in better shape than most. Writer Stephen Timewell
Bahrain
Battling the odds
Largely robust: the banks at Bahrain Financial Harbour have shown resilience in the global crisisBahrain has had to deal with its fair share of problems on the back of the global economic downturn, but a sound regulatory and supervisory structure and deft handling of the crisis by the central bank has ensured it will emerge as a stronger, more confident nation as a result. Writer Charlie Corbett
Iran
Bold new showing from Iran
Recent negative headlines associated with Iran have overshadowed the more positive news surrounding the country's banking sector. Five of Iran's banks entered the highest movers category in this year's Top 1000, with the Export Development Bank of Iran topping the list. The bank leaped 579 places from 867 in last year's rankings to 288 this year. Its Tier 1 capital increased from $327m for calendar year 2007 to $2.1bn for year 2008. Bank Saderat Iran, Bank of Industry and Mine, Bank Pasagard and Bank Melli Iran also made it onto the list of highest movers. The boom in Islamic financing has undoubtedly benefited the sector, with Iranian Banks accounting for $235bn, or 37.5% of total sharia-compliant assets.
