Standard & Poor’s (S&P) has published a new report entitled: “Rated Gulf Banks Show Limited Exposure to US Sub-prime,” incorporating results from a survey on the largest banks in the GCC region. According to S&P, Gulf banks do not have much to worry about, as the banks are not directly related to the sub-prime markets. The survey assessed the exposure of the 20 largest rated banks in the Gulf to US sub-prime mortgage-related instruments. S&P’s main finding indicates that the....