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Bahrain banks safe as EU crisis continues

Bahrain Association of Banks (BAB) has said lenders in the kingdom are unlikely to be directly affected by the eurozone turmoil, because their net funding dependence on European banks, and external funding in general, is largely limited and manageable, Daily Tribune has reported. "The banking sector is also very liquid and that is the reason that makes Bahraini banks very resilient," said BAB Chairman Abdulkareem Bucheery. "Even with the economic woes, the liquidity means that the banking system would operate normally, even under extreme economic conditions. And banks will continue lending because of the high levels of liquidity."