Interest rates up in Bahrain
The average rate of interest on trade loans offered by Bahrain banks has risen to 5.24 per cent at the end of third quarter of this year, compared to 4.79 per cent in the same period last year, reports our sister paper Akhbar Al Khaleej.
Average rate of interest on construction and development sector increased from 4.99 per cent to 5.24 per cent during the review period, said the report citing the Central Bank of Bahrain data. The industrial sector in Bahrain saw its rate of interest fall from 4.58 per cent to 3.73 per cent.
- Why is Jordan's inflation so high? These reasons may surprise you....
- The Middle East's lack of savings: a ticking time bomb?
- How a Middle Eastern bank fought off the global financial crisis and turned around
- The GCC's small businesses need to prepare themselves for bankcruptcy
- Why the World Bank is ill-prepared when it comes to dealing with the Middle East