Banks Use 15 Per Cent From Emergency Lending Facility

ABU DHABI - UAE banks are strong and face no risk, in the wake of global meltdown, as they have availed only 15 per cent of emergency facility of Dh50 billion, setup by the Central Bank last month, said Sultan bin Nasser Al Suwaidi, UAE Central Bank Governor.

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Published: Wed 29 Oct 2008, 12:00 AM

Last updated: Sun 5 Apr 2015, 2:26 PM

Things are getting better and stabilising, as Central Bank and the Federal Government pumped in enough liquidity, as well as confidence in the banking system, added Suwaidi.

Further, he stated that the loans given by all banks for the year end were being currently examined to determine any need to make extra provisions.

UAE banks, are strong enough to face any correction in the real estate market, he added.

haseebhaider@khaleejtimes.com


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