In Booming Dubai, Call It The Anti-'Credit Crunch' - WSJ.com

In Booming Dubai, Call It The Anti-'Credit Crunch' - WSJ.com: "In Booming Dubai, Call It
The Anti-'Credit Crunch'
With So Much Building Going On,
Can Banks Keep Up?
By TAHANI KARRAR
August 16, 2008; Page B1

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Emirates' Financial Markets Association. 'They are lending money at such a fast pace that they are unable to find depositors.'

Unlike in the U.S. and Europe, where fears of default risk are prompting lenders to hoard their money instead of lend, in the Gulf the problem is different. Booming oil revenues are being ploughed into infrastructure, meaning they aren't filtering into the rest of the economy at the same pace as demand for loans in other parts of the economy is rising."