Bank executives are still beating a path to the Middle East looking for investors, in some cases in a last-ditch effort to prop up ailing companies, but a senior diplomat in the region said they may have to wait for sovereign investors to recover an appetite for risk.

A time will come when individuals and sovereign wealth funds in the region will enthusiastically invest in U.S. banking companies again, said Ford M. Fraker, the U.S. ambassador to Saudi Arabia, but for now caution reigns.

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