Saudi Arabia, UAE set to drive GCC private credit growth: Moody’s

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RIYADH: Saudi Arabia and the UAE are set to account for most of the Gulf’s private-credit growth as economic diversification and infrastructure spending create demand for financing beyond banks, Moody’s Ratings said. The Gulf Cooperation Council private-credit market is currently worth about $6 billion, compared with $1.8 trillion globally, but is expanding rapidly from a low base, the rating agency said in its…