Gulf Banks Keep Their Nerve As Allies Hit Saddam Hussein
BANKS
The Allied air strike on Iraq failed to shatter nerves on the foreign exchange desks of major banks in the Gulf. They're looking forward to renewed growth in 1993 given firm oil prices and buoyant trends in government spending.
Says Bob Raimant, chief financial officer at National Bank of Abu Dhabi (NBAD): "We're perfectly safe here and well out of Scud range."
NBAD, majority-owned by the Abu Dhabi government, used to be an active player with professional interbank trading in foreign exchange
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