Abstract: In the countries of the Gulf Cooperation Council (GCC), an increased need for finance meets underdeveloped capital markets. Ambitious development plans in fields like petrochemicals and infrastructure as well as a rapidly growing population form the backdrop of this scenario. While world capital markets show on average a balanced capital structure of debt securities, stock market capitalization, and bank assets, bond markets in the GCC countries are underdeveloped and the capital mix is heavily skewed towards banks. This book outlines the structure of various segments of GCC financial markets and points to regulatory challenges and possible future developments. The issues range from capital market structures to the planned GCC Monetary Union, Islamic banking, and sovereign wealth funds. In the wake of the global financial crisis and international currency turmoil, financial markets in the GCC countries face particular challenges. This book gives particular attention to the empirical situation on the ground and the institutions involved in the ongoing process of change.