Data from the Statistical Center for the Gulf Cooperation Council (GCC-Stat) showed that the volume of foreign reserve assets in the Gulf countries grew by 7.5 percent during the first half of last year, compared to the end of 2023, to reach $ 804.1 billion. These assets account for 4.9 percent of the global total, ranking in terms of the size of international reserve assets in fifth place after China, the European Union, Japan and Switzerland.
According to the center, the total assets of commercial banks operating in the region by the end of the first half of 2024 amounted to about $ 4.3 trillion, an increase of 8.4 percent compared to the total assets recorded at the end of 2023.
Source (Al-Arab Newspaper of London, Edited)
