Risk.net

Credit crisis could be catalyst for local market

Middle East Investment Summit, Bahrain, November 2009

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The Middle East and North Africa (MENA) region may have thought it would escape the financial crisis but this was a false assumption, says Mohieddine Kronfol, a board member and managing director of asset management at Algebra Capital, a Dubai-based asset management company. “The region thought it was isolated but it was not,” says Kronfol. The response of the region to the crisis, however, was different. There were mixed policy responses: fiscal stimulus, quantitative easing and