GCC economies are dominated by SWFs, says Seetharaman
The GCC economies are dominated by Sovereign Wealth Funds that account for more than 30% of the global SWF assets, valued at $6tn, said Doha Bank Group CEO, Dr R Seetharaman. He was delivering the keynote address on “Uncertain times — can GCC banking take off?” at a conference hosted by the ICAI Abu Dhabi Chapter recently. Gulf SWFs have invested in a wide range of industries and high-risk assets with higher expected return. The assets under management growth in the GCC will be mainly driven by positive economic outlook, family businesses & entrepreneurship and the population demographics, Seetharaman said.
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