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The last financial crisis 2007-2009 has many implication on different markets , however there are some arguments that the gulf a
Finance & Accounting
Pages 15 (3765 words)
Financial crisis 2007-2009 and its impact on the GCC countries Table of Contents Abstract 3 1. Introduction 4 2. Literature Review 4 2.1 Evolvement and Concept of Global Financial Crisis 5 2.2. Measuring the extend of effect on the GCC countries 6 2.2.1. The role played by the financial sector of the GCC countries in the national economy 6 2.2.2…
Granting of loans in an uncontrolled manner, which resulted in the value of the loan exceeding that of the assets, was the root of the problem. These loans were provided to the borrowers without conducting a minimum check on their credit-worthiness. The result was that many of the borrowers failed to pay their loans back, which clearly reflected the financial status of the institutions and their inability to pay their obligations, thereby resulting into collapse. This paper investigates the severity of the impact on the GCC market. In this context, the financial market of the GCC countries has been considered along with special attention towards Qatar. The study revealed that the severity of the impact was not as huge as compared to the rest of the world. This can be due to the fact that the policy makers of GCC countries took ardent steps to mitigate the risk. Moreover, the Qatari economy did not get much affected and the banks were declared solvent in that time. However, the real estate business was seen to experience huge hit by the credit crunch. 1. ...
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