Gulf debt markets to reach $190 billion by 2006
A senior business delegation from Moody's Interbank Credit Service met this week with key officials from the Dubai International Financial Center (DIFC). DIFC invited Moody's to play a key role in developing the regional debt markets, which is estimated to reach $190 billion by 2006. Moody's expressed an interest in opening an office in DIFC to take advantage of the business potential in the region.
DIFC Chief Operating Officer Hussain Al-Qemzi briefed the Moody's team on the DIFC and explained the measures being taken to position the DIFC as a universally recognized hub for institutional finance. He also outlined the steps taken to create a financial services cluster within DIFC.
A key step in developing this cluster is the DIFC's initiative to develop the regional debt capital markets, which is essential to unlock the full potential of the corporate bond market in the region.
With more than 800 credit analysts operating in 17 offices around the world, Moody's Investors Service is an international credit rating agency, servicing the capital markets with a credit and financial strength ratings, research products, and risk measurement systems.
Moody's provides credit ratings and analysis on over $30 trillion of debt, covering approximately 85,000 corporate and government securities, 73,000 public finance obligations, 4,300 corporate relationships and 100 sovereign nations. — (menareport.com)
© 2002 Mena Report (www.menareport.com)