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Publications
Working Papers

Crony Interlockers and The Centrality of Banks: The Network of Moroccan Listed Companies

Mohamed Oubenal

In this paper, we study crony capitalism through the lens of Moroccan listed companies and the role of the financial sector. We first highlight the role of banks in the ... read more


Publications
Working Papers

I’ve Got the Power: Mapping Connections between Lebanon’s Banking Sector and the Ruling Class

Jad Chaaban

This paper explores the extent to which local commercial banks in Lebanon are linked to the country’s political class, and how this impacts their efficiency and sovereign risk exposure. By ... read more


Publications
Working Papers

Local Versus International Crises, Foreign Subsidiaries and Bank Stability: Evidence from the MENA Region

Tammuz Alraheb and Amine Tarazi

We investigate the impact of global and local crises on bank stability and examine the effect of owning bank subsidiaries in other countries. We consider banks from MENA countries which ... read more


Publications
Working Papers

Risk Sharing Vs Risk Bearing and Shifting: Evidence from Conventional and Islamic Banks of MENA Region Using Metafrontier Directional Distance Functions

Zouheir Bouchaddakh and Mohamed Mekki Ben Jemaa

A large empirical literature has been developed, in the two last decades, to compare performance of Islamic and conventional banks. This paper contributes to this literature using a new methodology ... read more


Publications
Working Papers

Can Gulf Banks Pass the CCAR Stress Tests?

Mahmoud Haddad and Sam Hakim

The absence of a uniform standard for stress tests is a key challenge today for Central Banks in the Gulf. This paper utilizes the Dodd-Frank 2010 Comprehensive Capital Analysis and ... read more


Publications
Working Papers

The Effects of Bank Regulations, Competition and Financial Reforms on MENA Banks’ Profitability

Samy Bennaceur and Mohammed Omran

Abstract In this paper, we examine the influence of bank regulations, concentration, financial and institutional development on commercial bank margin and profitability across a broad menu of Middle East and North Africa (MENA) ... read more


Publications
Working Papers

The Impact of Capital Requirements on Banks’ Cost of Intermediation and Performance: The Case of Egypt

Samy Bennaceur and Magda Kandil

Abstract In 1991, the Central Bank of Egypt increased the minimum capital requirements for the banking industry vis-à-vis risk-weighted assets to 8 percent, along the lines proposed by the Basel Committee on Banking ... read more


Publications
Policy Research Reports

Some Aspects of Liquidity In Islamic Banks (ISBs): A Case Study of Selected Banks in The MENA Region

Badr-El-Din Ibrahim and K.C. Vijaykumar

In the international scene, there is greater focus on financial stability. Various research organizations and financial institutions like the IMF, Basel Committee, European Bank and Asian Development Bank as well ... read more


Publications
Working Papers

The Impact of War and Terrorism on Sovereign Risk in MENA Countries

Mahmoud Haddad and Sam Hakim

Abstract The prolonged war in Iraq, the political turmoil in Lebanon, the heightened tension between the Israelis and the Palestinians, and the specter of an attack on Iran have all significantly shaken business ... read more


Publications
Working Papers

Basel Accord and Lending Behavior: Evidence from MENA Region

Samy Bennaceur and Magda Kandil

Abstract In 1988, an agreement was reached in Basel to set common requirements of bank capital in order to promote the soundness and stability of the international banking system. In line with the ... read more


Publications
Working Papers

Market Discipline and Deposit Insurance: Evidence from Some Middle Eastern Banks

Ghassan Omet, Ibrahim Saif and Hadeel Yaseen

Abstract Financial development, which involves the establishment and expansion of institutions, instruments and markets, plays an important role in economic growth given that they can ameliorate information and transaction costs, facilitate a more ... read more


Events
Workshops/Seminars

Monetary and Fiscal Institutions in Resource-Rich Arab Economies

The Arab region is endowed with large natural resource wealth, with resource discoveries taking place since the first half of the twentieth century. The region holds close to half of ... read more


Events
Workshops/Seminars

Monetary and Fiscal Institutions and Macroeconomic Management in Resource-Rich Arab Economies

Building on findings from a previous phase of research on the implications of oil wealth on growth and macroeconomic policies under the theme of natural resources and economic diversification, the ... read more


Events
Conferences

Monetary and Fiscal Institutions in Resource-Rich Arab Economies

ERF held a conference on Monetary and Fiscal Institutions in Resource-Rich Arab Economies on November 4-5, 2015, in Kuwait City, Kuwait. The event, held in cooperation with the Arab ... read more


Publications
Working Papers

Trade and Access to Finance of SMEs: Is There A Nexus?

Hala El-Said, Mahmoud Al-Said and Chahir Zaki

Limited resources and barriers to entry are critically higher for small and medium enterprises (SMEs) than for large companies. One of the reasons explaining why the resources of SMEs are ... read more


Publications
Working Papers

Does Banking Market Power Matter on Financial (In) Stability? Evidence from the Banking Industry MENA Region

Widede Labidi and Sami Mensi

The various financial crises during the last two decades, and particularly since the 2007-2008 Global Financial Crisis, have revealed the complexity of the interaction between bank market structure, regulation and ... read more