some guy in lebanon

Direct effects of subprime fallout muted by Arab banking practices

According to the Daily Star,

The prudent policies of Arab banks and financial institutions have allowed these entities to avoid the negative effects of the acute crisis that hit the stock markets in the United States and part of Europe, a leading Arab banker says. Addressing a large group of bankers that gathered at the Phoenicia InterContinetnal Hotel in Beirut on Friday evebing, Union of Arab Banks chief Adnan Youssif nevertheless cautioned bankers in the Middle East not to take the crisis in the West too lightly.

Click here to read the full article at the Daily Star’s Website