Call for MENA Development Bank

Call for MENA Development BankAt this week’s 4th Arabian Business Forum, the leaders of several major banks called for the Middle East to form a large bank to compete on the international level.  While there are many smaller banks in the region, and a huge amount of wealth is amassed there, no “serious, global Middle East bank” exists, according to the CEO of Standard Chartered, V. Shankar.

Shankar also suggests that a regional development bank is necessary in the region, similar to Europe’s European Development Bank or Asia’s South Asia Development Bank.  This would help fund the infrastructure projects that will also be necessary to usher the Middle East into global superpower status.  About $1.5 trillion of projects are planned within the next few years.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

At this week’s 4th Arabian Business Forum, the leaders of several major banks called for the Middle East to form a large bank to compete on the international level.  While there are many smaller banks in the region, and a huge amount of wealth is amassed there, no “serious, global Middle East bank” exists, according to the CEO of Standard Chartered, V. Shankar. Shankar also suggests that a regional development bank is necessary in the region, similar to Europe’s European Development Bank or Asia’s South Asia Development Bank.  This would help fund the infrastructure projects that will also be necessary...

Call for MENA Development BankAt this week’s 4th Arabian Business Forum, the leaders of several major banks called for the Middle East to form a large bank to compete on the international level.  While there are many smaller banks in the region, and a huge amount of wealth is amassed there, no “serious, global Middle East bank” exists, according to the CEO of Standard Chartered, V. Shankar.

Shankar also suggests that a regional development bank is necessary in the region, similar to Europe’s European Development Bank or Asia’s South Asia Development Bank.  This would help fund the infrastructure projects that will also be necessary to usher the Middle East into global superpower status.  About $1.5 trillion of projects are planned within the next few years.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply