GULF COUNTRIES LAUNCH FINANCIAL WATCHDOGS
April 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
THE FINANCIAL crisis, international regulations and the 'Arab Spring' have prompted Gulf countries to set up or expand the mandates of public watchdogs to curb corruption and financial malpractice. There have been some notable progress, but enforcement is still lagging.
When the recession hit the Gulf Cooperation Council (GCC) countries (Saudi Arabia, Bahrain, Qatar, the United Arab Emirates - UAE, Kuwait and Oman) in late 2008, it signalled the end of a decade of rampant economic growth. With governments closely tied to flailing real ...
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