The regional financial centers role is highly studied in literature mainly after the European integration. The regional financial centers “RFC” definition, characteristics and measurement method are our main purpose in this study. This study presents FAM “Financial Attractiveness Model” model as numerical indicator for the regional attractive financial center, taking a real case the GCC “Gulf Cooperation Council” region. The GCC economic complexities and financial systems weakness increase the importance of the regional financial center. In this paper, we test the GCC stock market financial center changes by applying FAM model between 2000 and 2004. We test the sub periods from 2000 to 2002 then from 2002 to 2004 in order to see the changes in the regional financial center and then to compare with the IMF anchor regional financial center.

The regional financial centers role is highly studied in literature mainly after the European integration. The regional financial centers “RFC” definition, characteristics and measurement method are our main purpose in this study. This study presents FAM “Financial Attractiveness Model” model as ...