Economic and financial circles, have applauded the preventive measures taken by the UAE to protect its national economy amid the current global financial crisis.

"The measures taken by the UAE have established confidence among the investors and depositors in the country, as they boosted the ability of the national economy to overcome the global financial crisis", they said.

Local Arabic Language daily, Al Ittihad quoted the Cabinet Affairs Minister HE Mohammed Abdullah Al Gergawi as saying "the decisions taken by the Cabinet did not rule out the foreign banks operating in the country", adding that "the decisions followed the study of global financial crisis in order to ease potential repercussions on the UAE economy, as well as to retain the current strong level of the economic growth in the country".

Dubai International Financial Centre Governor and Board Chairman of the UAE Central Bank Dr Omer Suleiman said the statement of President HH Sheikh Khalifa bin Zayed Al Nahyan "reflects keenness of the country’s leadership to protect the national economy. The decisions taken by the Cabinet under chair of Vice President and Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum are remarkable decisions, which will go down into the history in the name of the UAE leadership and government as well".

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