Executive forum: the prospects and challenges facing GCC banks and future policy directions and strategies
Abstract
The banking and financial sector of the Arab Gulf region is characterized by deregulation, globalization, product innovation, developments in technology and increasing competition. This change has created the potential for gain but has also increased risk. After the oil and gas sector, the Gulf′s banking and financial sector is the region′s main hope for future economic development. Attempts to address the present and future prospects and challenges faced by the Gulf banking sector through an examination of the trends and patterns in banking development and financial deepening, the nature of long‐range strategic planning, the prevailing marketing environment and aspects of customers′ behaviour. The financial deepening in Gulf Co‐operation Council countries was significant in the last decade but suffered a setback during the post‐Gulf war period. The analysis shows that individual banks have to initiate or increase their strategic planning effort. The strategic thrust of banks is likely to be one of consolidation in a tough over‐banked and somewhat recessionary domestic market while pursuing a regional niche strategy and seeking a prominent role through mergers, acquisitions and restructuring.
Keywords
Citation
Bhattacharyay, B.N. (1995), "Executive forum: the prospects and challenges facing GCC banks and future policy directions and strategies", International Journal of Bank Marketing, Vol. 13 No. 1, pp. 35-44. https://doi.org/10.1108/02652329510075445
Publisher
:MCB UP Ltd
Copyright © 1995, MCB UP Limited