GCC banking in a very strong spot: Al Fulaij
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Outlook reflects credit ratings and confirms the success of regulatory measures
Salah Al-Fulaij, CEO- Kuwait at National Bank of Kuwait said in an interview with MEED Magazine that the impact of subdued credit growth and rising NPLs in recent years, mainly the lower oil price years, has been very-well dealt with by the regulators. He added that most banking systems went into the lower oil price environment in much stronger positions relative to what happened during the financial crises.
Most Central Banks in the region have been hands-on when it comes to banking supervision and we have seen several regulatory measures taken since the financial crises back in 2008. Al Fulaij pointed out that most GCC governments are targeting aggressive expansion plans with significant amounts to be spent on infrastructure projects. This will highly likely lead to some pressure on dollar liquidity in the region which will be met through debt issuances, he added
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