Yemeni banks not on world banks list [Archives:2006/909/Business & Economy]

January 5 2006

According to The Banker Magazine's annual study, Yemeni banks failed to be listed among the world's 1,000 largest banks, whereas 73 Arab banks were included.

Arab banks listed were: 14 Emirati, 10 Saudi, seven Kuwaiti, seven Egyptian, five Bahraini, five Lebanese, four Moroccan, two Jordanian and two Qatari. Regarding level of assets, Arab banks recorded an annual increase of 8.2 percent in the past 10 years.

Of the world's 1,000 largest banks, Arab banks were two percent when indicating before-tax assets and profits and three percent when indicating basic capital.

No Yemeni won a banking award in 2005, recently awarded in Bahrain at the 11th World Conference of Islamic Banks.