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FINANCIAL NEWS
Saudi, UAE say no big financial effect from Brexit
26 Jun 2016
(MENAFN) Saudi Arabia and UAE said that they did not expect remarkable effect to their financial institutions after Britain’s vote to leave the European Union.
“Kingdom had already made some adjustments to assets denominated in sterling and euros in anticipation of the vote,” Saudi officials said.
Gulf’s largest economy said it had been observing the situation and made the changes as a “precautionary stance,” Saudi Arabian Monetary Authority Governor said.
“For the banking sector, we expect that the impact will be limited, because it is less exposed to the two aforementioned currencies’ movements,” he added.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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