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Country risk 2010:

Country risk 2010:

Bi-annual Country risk survey monitoring political and economic stability of 186 countries

Euromoney Awards for Excellence 2009

Liquid real estate Issue 05

Boost for Bahrain’s mortgage market


The Kingdom of Bahrain’s Real Estate Finance company (Reef) has secured $150 million in warehouse financing to bolster its local mortgage lending activities. The facility, provided by Calyon Crédit Agricole CIB, enables Reef to diversify its funding sources. Ultimately, the mortgage portfolio could be used to back a residential mortgage-backed securitization in either an Islamic or standard format.




To date, there have only been a handful of mortgage-backed transactions in the Gulf region. Reef’s potential deal would be a first in Bahrain. Last year, Dubai’s Tamweel completed a $250 million RMBS via Morgan Stanley and Standard Chartered. That deal was backed by a portfolio of 1,000 mortgages. Other regional mortgage originators, such as Qatar Islamic Bank, are also looking at the securitization of their portfolios using...


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Government assistance [as] representing the difference between the actually achieved margins during stressed market conditions and the margins that would have been achieved under normal market conditions

A statement from Qatar’s Al-Khaliji Bank on how a government cash injection maintained the banks’ profitability in the second quarter of 2009

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