The wave of political strife enveloping the Arab world has rattled Gulf merchant families, businessmen and royals, leading many to move more of their personal wealth into offshore havens and assets.
Aside from Bahrain, where the government has bloodily suppressed an uprising by its Shia majority, and Oman, the Gulf has not seen significant unrest.
Nonetheless, those investing the wealth of Gulf merchant families and royals have become more risk averse, and shifted capital into havens such as Switzerland and the UK and liquid offshore assets such as high-grade bonds, private bankers said.
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