NO. 11


Financial and Banking News

Financial Flows

Gulf States Repatriated $12.6bn in First Half of 1991

New figures from the Bank for International Settlements (BIS) show that Gulfstates are continuing to repatriate large amounts of money which were placedwith overseas banks when the Gulf crisis broke out in August last year. In thefirst half of 1991, the liabilities of BIS reporting banks* to the Gulf states(including Iran and Iraq) fell by $12,540mn, of which $8,844mn...