Local MENA banks exploiting regulatory burden

Author: Lizzie Meager | Published: 17 Jul 2015

Local banks in the Middle East and North Africa are taking advantage of the regulatory-driven downsizing of international institutions and are landing bigger roles on deals, according to a recent report.

A June study by US consultancy firm Greenwich Associates found that companies in the region are increasingly taking their business to smaller, local financial institutions.

"Global banks have been challenged in recent years to say the least, and have been reducing provisions and headcounts," said Greenwich Associates’ Abhi Shroff, who authored the report. "It has meant that local banks have been able to step up."

The study also found that the biggest companies in the region were mostly using domestic cash management, trade finance and foreign exchange services. Almost 75% of respondents said they will require capital over the...


 

 

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