Jean Francois Seznec - Böcker

Financial markets across the Arabian Peninsula have gone from being small, quasi-medieval structures in the 1960s to large world-class groupings of financial institutions. This evolution has been fueled by vast increases in income from oil and natural gas. The Financial Markets of the Arab Gulf presents and analyzes the banks, stock markets, investment companies, money changers and sovereign wealth funds that have grown from this oil wealth and how this income has acted as a buffer between Gulf society at large and the newfound cash reserves of Gulf Cooperation Council states (Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain) over the last fifty years.By assessing the development of institutions like the Abu Dhabi Investment Authority, the Saudi Arabian Monetary Authority, the Public Investment Fund and the National Bank of Kuwait, The Financial Markets of the Arab Gulf evaluates the growth of the markets and provides a detailed, critical, snapshot of the current form and function of the Gulf’s financial markets. It argues that the markets have been controlled by various state institutions for socio-political reasons. In particular, the Saudi state has used its sophisticated regulatory regime to push for industrialization and diversification, which culminated in the Vision 2030 plan. The UAE, Qatar, Kuwait, Bahrain and Oman have also been strongly involved in establishing modern markets for similar purposes but have done so through different means, with varying results, and each in line with what has been considered their respective comparative advantages. Along with critically surveying these institutions and their role in global finance, the book also presents case studies depicting transactions typical to the region, including the highly profitable documentary credits of commercial banks, the financial scandal of certain financiers and their regulatory arbitrage between Bahrain and Saudi Arabia, a review of the Dubai’s trade miracle, and an assessment of the value and importance of the privatization of Saudi Aramco.

In recent years, we have witnessed huge economic and socio-political change in the Gulf. This book examines the rapid industrialization of the region and how local economies are starting to diversify away from petroleum, exploring how this transformative process is starting to impact on the region’s economy and social make-up. With contributions from some of the top scholars and practitioners in the area, this book discusses crucial topics related to the region’s transformation, from issues of economic development and relations with Iran to foreign labour and women’s education and work outside the home. Chapters explore how in addition to the massive growth in investments and products such as oil, gas, chemicals, metals, and cement, this growth has triggered numerous societal changes, such as labour migration, educational reforms, declining natality, and shifting gender roles.Covering in detail a broad range of issues, this book will appeal not only to Middle East experts, particularly those with an interest in the Persian Gulf, but also to development experts and political scientists.

In recent years, we have witnessed huge economic and socio-political change in the Gulf. This book examines the rapid industrialization of the region and how local economies are starting to diversify away from petroleum, exploring how this transformative process is starting to impact on the region’s economy and social make-up. With contributions from some of the top scholars and practitioners in the area, this book discusses crucial topics related to the region’s transformation, from issues of economic development and relations with Iran to foreign labour and women’s education and work outside the home. Chapters explore how in addition to the massive growth in investments and products such as oil, gas, chemicals, metals, and cement, this growth has triggered numerous societal changes, such as labour migration, educational reforms, declining natality, and shifting gender roles.Covering in detail a broad range of issues, this book will appeal not only to Middle East experts, particularly those with an interest in the Persian Gulf, but also to development experts and political scientists.

Financial markets across the Arabian Peninsula have gone from being small, quasi-medieval structures in the 1960s to large world-class groupings of financial institutions. This evolution has been fueled by vast increases in income from oil and natural gas. The Financial Markets of the Arab Gulf presents and analyzes the banks, stock markets, investment companies, money changers and sovereign wealth funds that have grown from this oil wealth and how this income has acted as a buffer between Gulf society at large and the newfound cash reserves of Gulf Cooperation Council states (Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain) over the last fifty years.By assessing the development of institutions like the Abu Dhabi Investment Authority, the Saudi Arabian Monetary Authority, the Public Investment Fund and the National Bank of Kuwait, The Financial Markets of the Arab Gulf evaluates the growth of the markets and provides a detailed, critical, snapshot of the current form and function of the Gulf’s financial markets. It argues that the markets have been controlled by various state institutions for socio-political reasons. In particular, the Saudi state has used its sophisticated regulatory regime to push for industrialization and diversification, which culminated in the Vision 2030 plan. The UAE, Qatar, Kuwait, Bahrain and Oman have also been strongly involved in establishing modern markets for similar purposes but have done so through different means, with varying results, and each in line with what has been considered their respective comparative advantages. Along with critically surveying these institutions and their role in global finance, the book also presents case studies depicting transactions typical to the region, including the highly profitable documentary credits of commercial banks, the financial scandal of certain financiers and their regulatory arbitrage between Bahrain and Saudi Arabia, a review of the Dubai’s trade miracle, and an assessment of the value and importance of the privatization of Saudi Aramco.

Originally published in 1987, The Financial Markets of the Arabian Gulf looks at the importance of finance and the flow of funds to the development of the countries in the Arabian Gulf. Examining in detail the financial markets of Kuwait, Saudi Arabia and Bahrain, the book looks at how each of these markets has developed differently because of the political choices made by each government and how each is faced with different cultural and sociological variables which has influenced future of the financial markets. This book provides a look at the fiber of each of these three Arab Nations in respect of their financial markets.