The beneficial effects on regional domestic economies of a higher oil price from the middle of last year onwards meant that Arab banks generally enjoyed a steady 1999.
Bahrain: Gulf International Bank, like Arab Banking Corp, is expanding in the region
However, it is in the results for this year that the full effects of the oil price rise will be reflected and the many positive First-half 2000 bank Figures already are showing the trend.
Most Arab countries will have good rates of growth in GDP this year, particularly within the Gulf Co-operation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE).
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