The financial meltdown is a result of new business models that banks have innovated, according to Mr. R Seetharaman, Group CEO, Doha Bank. The meltdown is a social crisis and not just a financial one. As a result of financial innovations, new business models of banks emerged which changed the underlying economics of banking. The new financial instruments enabled credit risk to be shifted away from the originators of loans.
� 2012 Al Bawaba (www.albawaba.com)
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