Armed with deep pools of liquidity, many Middle Eastern banks are exploring new avenues of growth, from expanding their regional presence to concentrating on innovation within the Islamic finance sphere.
Middle East
Latest articles from Saudi Arabia
Saudi Arabia's economy goes from strength to strength
April 2, 2012By identifying potential weaknesses and fixing them – diversifying a previously oil-reliant economy and encouraging growth in the private sector – Saudi Arabia has managed to sustain a growing economy, even through times of economic and political turmoil.
Saudi Arabia's banking sector hits new heights
April 2, 2012Loans are up, deposits are growing and profits are healthy in Saudi Arabia's banks. But with growth opportunities in Islamic finance and a low proportion of home ownership in the country, there are still many more lucrative areas for these institutions to tap.
SAMA chief focuses on domestic developments
November 1, 2011Muhammad Al-Jasser, the governor of Saudi Arabian Monetary Agency, says that while the country's role within the wider Middle Eastern and global economies is an important one, in times of such financial anxiety, it is important to focus on domestic matters.
HSBC and SABB pull off landmark sharia-compliant deal in Indonesia
September 1, 2011It has taken nearly two years, but Indonesian mobile telecoms operator Axis has secured $1.2bn of sharia-compliant financing. For many of the players involved, it was their first dealing with sharia principles, presenting HSBC and its Saudi affiliate with a complex task.
Saudi Arabian central bank seeks to meet sukuk challenge
March 15, 2011Mohammad Al-Jasser, governor of Saudi Arabia’s central bank, discusses the huge potential of sukuk issuance in an interview with Stephen Timewell in Riyadh.
Saudi banks view future with a mixture of caution and optimism
March 10, 2011Saudi Arabia's banks largely enjoyed a profitable 2010 and are looking to 2011 with renewed optimism. Though the lessons of the past few years mean that a cautious approach will be adhered to, the sector's future certainly looks bright.
Saudi Arabia steps up its growth strategy
March 9, 2011Saudi Arabia stuttered during the global financial crisis, but never plumbed the depths of the world's more developed economies. Now, the country's leaders are eyeing a more prosperous future, with a key focus being on educating and employing its youth and women.
HSBC's sukuk solution
July 6, 2010With its seven-year maturity making it the longest for any sukuk drawn up by a Saudi corporate, the $1.9bn capital raising put together for the Saudi Electric Company marks a huge achievement for the HSBC Saudi Arabia team that assembled it. Writer Edward Russell-Walling
Brave new world
March 31, 2010Despite suffering a few shocks in 2009, Saudi Arabia's banking sector remains healthy and stable. As the sector faces up to the new realities and the need for change, an era of more modest, sustainable banking is emerging. Writer Stephen Timewell