Economist: Gulf banks are safe from the repercussions of the banking crisis

Dr. Yousef Al-Awadi, an economist, said that Gulf banks are safe from the repercussions of the banking crisis, after the sudden collapse of a bank. "Silicon Valley" A collapse followed "Signature Bank".

The economist explained – in an interview with Al-Arabiya TV – that Gulf banks are commercial banks that rely on deposits from individuals, companies and government institutions, which are stable deposits.

He added that there is close monitoring by the Gulf central banks, so the economic situation has not witnessed any problems in recent years, as indicated by the exposures according to the announced numbers.

He stressed that there is a need for the regulatory authorities to intervene strongly and decisively to prevent any crises.

Earlier, Farid Belhadj, Vice President of the World Bank for the Middle East and North Africa, ruled out the repercussions of the collapse of the US Silicon Valley Bank (Silicon Valley SVB) on Arab economies.