Wednesday 21/2025 – 10:50 PM
City Group expects the continuation of the strength of the economies of the Middle East countries, even in light of the recent fluctuations in global oil prices, and the reason for this optimism is due to the intensive efforts made by the Gulf states, especially Saudi Arabia and the UAE; To enhance its capital markets and attract foreign direct investments necessary to push the economic transformation wheel away from total dependence on oil revenues.
Carmen Haddad, Deputy Chairman of the Board of Directors for Special Banking Services in City Group, confirmed that the region is in a very good position to achieve long -term growth.
During its participation in the Qatar Economic Forum in Doha, Haddad indicated that the countries of the Gulf Cooperation Council have succeeded during the past seven or eight years in achieving two pivotal goals, the economic diversity by shifting from oil -based economies, and to become a major stability component in the Middle East.
City Group is seeking to expand its existence in the Arab Gulf region to take advantage of the increasing economic prosperity and the boom of deals, in addition to strengthening their relationships with ruling and wealthy families and families offices to generate more wealth management revenues.
It is noteworthy that investment banks are currently racing to enter the Gulf region, which is attracting unprecedented numbers of millions of people thanks to low tax policies and business reforms.
