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Standard Chartered: Dubai risks its status as a financial center due to the Gulf dispute
08/08/2017
Standard Chartered Bank chief warned on Monday of the repercussions of the crisis in the Gulf region on the financial position of Dubai.
"Dubai risks its status as a financial center as a result of the financial boycott imposed on Qatar by the four Arab states, Saudi Arabia, the UAE, Bahrain and Egypt," Reuters chairman Bill Winterers was quoted as saying.
"Dubai will face more difficulties to play the role of the regional financial center of major international financial institutions in the event of a continuation of the current crisis," Winters said.
Standard Chartered is one of the leading lenders in the Middle East.
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