Introduction (S. Neaime, N. Colton). Part I Savings, investments and portfolio and FDI flows in MENA 1. Portfolio diversification and financial integration of MENA stock markets (S. Neaime). 2. Foreign direct investment in Tunisia: Role of the free trade agreement with the European Union (M. A. Chemingui, N. Colton). 3. Institutional investors, contractual savings and capital markets development in Egypt, Jordan, Morocco and Tunisia (W. Grais, D. Vittas). 4. Financial liberalization, saving, investment and growth in Middle East countries. (A. Lachen). 5. Determinants of private savings in the Middle East and North Africa. (K. M. Ozcan, Y. Z. Ozcan). Part II Commercial banking in the Middle East 6. Profitability and risk management in banking: A comparative analysis for selected MENA countries. (S. Hakim, S. Neaime). 7. An analysis of mergers and acquisitions in the Turkish banking sector. (A. Mumcu, E. U. Zenginobuz). Part III Monetary, fiscal and exchange rate policies in the Middle East 8. Hysteresis in currency substitution: the Middle East and North Africa. (W. Shahin, F. Freiha). 9. Choosing an appropriate Palestinian Monetary Regime. (M. De Moraes Ruehsen). 10. Dollarization and its long-run determinants in Turkey. (I. Civcir). 11. Fiscal monetary and exchange rate policies in a small open economy (S. Neaime).