It is the accumulated surpluses and wealth of the oil exporting members of the Middle East, including the Gulf Cooperation Council (GCC), that have helped the global financial players to develop IF markets.
Over 2002-2006,  2  BIS Review 63/2008  GCC capital outflows, as reported by the International Institute of Finance (IIF), rose to $ billion: of this $ billion outflows went to US, $ billion to Europe and remaining to Asia and other destinations. 1 Reportedly, GCC net foreign assets rose to $ trillion or 225% of the region’s GDP.