More meritocratic financing in Middle East
December 01, 2009
Granting financing to prominent borrowers based on family name or reputation has long been a common practice across the Middle East. But with liquidity stretched and the region's banks looking more carefully at their risk profile, name lending could be on the way out
“The crisis has forced banks to accelerate what might have been a natural progression anyway,” said Citi’s Adam Key, speaking at the IFLR Middle East roundtable in Dubai last week.
Lesley Jones from Dubai Aerospace agreed: “There is more rigour now, in part because...
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