The central bank of the United Arab Emirates is to make money available to all domestic and foreign banks in the country. The extra liquidity is intended to ease investors’ concerns over the UAE’s financial situation.
The announcement came three days after the state-controlled investment company Dubai World asked for a six-month extension on its debt repayments. The request sent stock markets around the world tumbling. The company has debts of 59 billion dollars.
The UAE was at pains to stress, however, that in general its other banks are actually in sounder financial health than they were a year ago.
Map showing the seven emirates of the United Arab Emirates. The largest is that of Abu Dhabi.
Map from Wikimedia Commons
Map from Wikimedia Commons
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The ability of the Middle Eastern states to control their own soverign and private bank debt issues will reduce the pressures on a global solution. With the Euro an ever growing concern, the global marketplaces do not need another geographical region compounding the demand for financial resources to be diverted towards debt relief. hotels in beirut lebanon
What is of prime importance with this policy is that the crisis is made to be contained within the immediate region. The ability of the Middle Eastern states to control their own soverign and private bank debt issues will reduce the pressures on a global solution. With the Euro an ever growing concern, the global marketplaces do not need another geographical region compounding the demand for financial resources to be diverted towards debt relief.
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AbuDhabi is one of the top oil suppliers & supplies 10% of the world's oil demand, not only oil is what makes UAE famous but also tourism , thanks to Dubai's white sandy beaches, wide roads & wonderful weather
besides Dubai Hotels are highly ranked all over the world
AbuDhabi is one of the top oil suppliers & supplies 10% of the world's oil demand, not only oil is what makes UAE famous but also tourism , thanks to Dubai's white sandy beaches, wide roads & wonderful weather
besides Dubai Hotels are highly ranked all over the world
AbuDhabi is one of the top oil suppliers & supplies 10% of the world's oil demand, not only oil is what makes UAE famous but also tourism , thanks to Dubai's white sandy beaches, wide roads & wonderful weather
besides Dubai Hotels are highly ranked all over the world
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