VOL. XLIII

No. 11

13-March-2000

GCC

Gulf Capital Markets Have Huge Potential But Remain Underdeveloped

Despite the presence of over 64% of the worlds proven oil reserves, the Gulf area (including Iran) has failed to use these resources to build up its capital markets, according to Anwer Sher, head of Abu Dhabi-based Sher Consulting. At a recent conference in Dubai, Mr Sher said that market capitalization for the region stands at only around $150-160bn a clear indication that Gulf countries have...