Atiq Ur Rehman and Financial Institutions

Middle East North Africa: Increased activity is coming from financial institutions as they shore up liquidity and capacity for future needs, according to Business Week. Banks in the oil-rich region are raising funds through bonds and loans as liquidity falls and countries park less cash with local lenders. We expect debt capital market and syndicated loan activity to be better this year given lower oil prices, Atiq Ur Rehman, the New York-based bank chief executive officer for the Middle East and North Africa, said in an interview in Dubai. Governments, related entities and national oil companies are among the largest depositors in the region lenders, providing between 10 per cent and 35 per cent of non-equity bank funding, according to a report last month from Moody Investors Service. Brent crude, a benchmark for half of the global oil trade, has declined about 45 per cent in the last 12 months and gained 2.3 per cent to $57.87 as of the close of trading on 10 April. Banks in the Gulf Cooperation Council have raised $5.3 billion through bond sales this year, up from $4.4 billion a year earlier, while overall sales were little changed at about $8.1 billion, according to data compiled by Bloomberg. (news.financializer.com). As reported in the news.