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.
- First banks, now companies: Gulf firms 'go Islamic'
- No where to hide: Israel, UK ally against tax evasion epidemic
- Nasdaq-style crisis: is the Saudi stock market not ready to come out yet?
- Panic sell-offs: Gulf markets slide after U.S. oil hits six-year low
- What will it take for Egypt to get the $300 billion it wants?