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List of contents
- A Short History of the Financial Markets in the GCC States
The Commercial Banks
The Islamic Banks
The Money Changers
The Bahraini Offshore Market
The Capital Markets
Conclusion
- The Financial Markets of the United Arab Emirates
Dubai versus Abu Dhabi
The UAE’s Regulatory Environment
Free Trade Zones
The Banking Sector
Sovereign Wealth Funds
SWFs, Power Patronage and Asset Ownership
Conclusion
- The Financial Markets of Saudi Arabia
SAMA and the Regulatory Environment
The Capital Markets
The State Controlled Financing Companies
The Money Changers
The Commercial Banks
Conclusion
- The Financial Markets of Bahrain, Qatar, Kuwait and Oman
4.1 The Financial Markets of Bahrain
The Banking Sector
The Capital Markets
Islamic Financial Regulation: A New Niche?
Bahrain’s Unique Natural Resource
Conclusion
4.2 The Financial Markets of Qatar
Qatar’s Energy Markets
Trade and the Embargo
The Banking Sector
The Capital Markets
The Qatar Investment Authority
Conclusion
4.3 The Financial Markets of Kuwait
The National Assembly
The Capital Markets
The Banking Sector
Sovereign Wealth Funds
SWFs in Crises: The KIO and the Gulf War
Conclusion
4.4 The Financial Markets of Oman
Qaboos’s Elite Bargain
A New Challenge
Natural Resources and Diversification
The Banking Sector
The Capital Markets
Conclusion
- The Gulf States in Global Financial Markets
Phase 1: 1960-1985
Phase 2 1985-Present
2008: Shifting Tones
Lasting Change
Looking East: Energy Investments in Asia and Southeast Asia
Conclusion
- Case Studies
Introduction
6.1 The Saudi Aramco Privatization
Valuation
Transparency through Privatization
To IPO, But Where?
Conclusion
6.2 Name Lending and the TIBC Bankruptcy
Background
Regulatory, Personality or Practice: Who is At Fault?
Conclusion
Name Lending: A Primer
6.3 Dubai as a Financial Safe Haven
Indian Gold Smuggling
Iranian Trade Links
Conclusion
6.4 Documentary Credits
The Mechanics
Profitability
Conclusion
- Conclusion
About the author
Dr. Jean-François Seznec is Senior Fellow, Center for Global Energy at the Atlantic Council, Adjunct Professor at Johns Hopkins School of Advanced International Studies and Managing Director at The Lafayette Group.
Samer Joseph Mosis is a Senior Analyst with S&P Global Platts focusing on commodity markets. He previously was a Consultant for The Lafayette Group and holds a Masters Degree in International Economics from Johns Hopkins School of Advanced International Studies
Summary
This book focuses on the most developed financial markets in the region. It deconstructs each market’s key components and their respective socioeconomic implications. It discusses how these components interact with foreign actors and markets.
