South Korea to fill in where Europeans left off

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South KoreaWith the fiscal gridlock casting its shadow in the euro-zone, banks are tightening up for fear of the crisis. To uphold all on-going development projects in the region, Gulf financial institutions have swiftly moved in to partner with South Korea’s Import-Export Bank, a mutual agreement to allow a continued support of regional infrastructural progress. Among the Gulf banks involved are the National Bank of Kuwait, Al Ahli Bank of Kuwait, the Commercial Bank of Kuwait, Qatar National Bank, and Qatar Islamic Bank.

Officials from the South Korean lender, EximBank, believe that the initiative would promote co-financing for the sector, not just help Korean banks who operate in the Middle East. The memorandum of understanding agreement would also promote information sharing and even staff exchange between companies. Since support from European banks has waned, grown infinitely difficult to gain, South Korea would need to cooperate with the banks in the Middle East that boast liquidity.

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Reading Time: 1 minute

With the fiscal gridlock casting its shadow in the euro-zone, banks are tightening up for fear of the crisis. To uphold all on-going development projects in the region, Gulf financial institutions have swiftly moved in to partner with South Korea’s Import-Export Bank, a mutual agreement to allow a continued support of regional infrastructural progress. Among the Gulf banks involved are the National Bank of Kuwait, Al Ahli Bank of Kuwait, the Commercial Bank of Kuwait, Qatar National Bank, and Qatar Islamic Bank.

Reading Time: 1 minute

South KoreaWith the fiscal gridlock casting its shadow in the euro-zone, banks are tightening up for fear of the crisis. To uphold all on-going development projects in the region, Gulf financial institutions have swiftly moved in to partner with South Korea’s Import-Export Bank, a mutual agreement to allow a continued support of regional infrastructural progress. Among the Gulf banks involved are the National Bank of Kuwait, Al Ahli Bank of Kuwait, the Commercial Bank of Kuwait, Qatar National Bank, and Qatar Islamic Bank.

Officials from the South Korean lender, EximBank, believe that the initiative would promote co-financing for the sector, not just help Korean banks who operate in the Middle East. The memorandum of understanding agreement would also promote information sharing and even staff exchange between companies. Since support from European banks has waned, grown infinitely difficult to gain, South Korea would need to cooperate with the banks in the Middle East that boast liquidity.

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