VOL. XXXIV

NO.16

21-JANUARY-1991

Financial and Banking News

Gulf Crisis

Gulf Banks Stay Calm as War Begins in Gulf

Gulf financial markets were fully prepared for the attack by multinationalforces on Iraq which began in the early morning of 17 January, Gulf time. Allthe banks in Saudi Arabia, Bahrain and the UAE were officially open for businesson the morning of the attack, although the volume of transactions was slight.Bankers reported no significant withdrawal of deposits and no anguished calls...