South Korea to fill in where Europeans left off

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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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. Officials from the South Korean lender, EximBank, believe that the initiative would promote co-financing for the sector, not...

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.



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

 

 

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