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Union of Arab Banks: Assets of Arab banks constitute 140% of the Arab output

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Union of Arab Banks: Assets of Arab banks constitute 140% of the Arab output

Post by RamblerNash on Mon Jul 02, 2018 10:13 am

Union of Arab Banks: Assets of Arab banks constitute 140% of the Arab output

Sheikh Mohammed Jarrah Al - Sabah
Economy News Baghdad

The Arab Banks Union announced on Monday that the assets of Arab banks constitute 140% of the Arab GDP, pointing to the arrival at the end of 2017 to 3.45 trillion dollars.

"The Arab banking sector, which includes 650 banks, reached a total of $ 3.45 trillion at the end of last year, representing 140% of the total value of the bank," said Sheikh Mohamed Jarrah Al Sabah, Of the size of Arab GDP. "

He added that "the combined deposits amounted to about $ 2.2 trillion, or about 90% of the size of the Arab economy."

It is estimated that the volume of credit injected by the Arab banking sector amounted to 1.9 trillion dollars by the end of 2017, which constitutes about 77% of the size of Arab GDP. Indicating the great contribution of the Arab banking sector in financing the Arab economies despite the continued security, economic and social unrest in a number of Arab countries.

He concluded by saying that the Arab Banking Union is always looking forward to its Arab banking sector being free from any developments that may hinder its economic and social role, and to remain a strong bridge of communication with the international banking and financial institutions and a platform for dialogue on all matters of common Arab action. "He said.


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