$ 250 billion needed for Arab investments

An economic study prepared by former central bank governor and board chairman of the International Delta Bank Ali Najm has estimated value of needed investments to finance infrastructure projects in the Arab states during the current decade at $ 250 billion.

The study indicated that these huge investments need Arab banks that are financially and administratively able to effectively contribute to meet these necessary needs. It warned against the fact that the Arab banking sector which includes financial establishments and banks working in the area of investment, industrial, agricultural and real- estates loans is still traditionally regarding its work management and rights of the share- holders, with the exception of certain number of banks in the Arab Gulf states.

The study indicated that at a time when Arab banks are trying to attract expatriate Arab investments estimated at $ 1000 billion and using them in Arab projects," we find foreign banks that are trying to get the Arab capitals and transfer them abroad and also investing them in developmental projects serving their own economies."