|
Liquidity situation at banks is improving buoyed by brisk performance in various economic sectors, H.E. Sultan bin Nasser Al Suweidi, Governor of the Central Bank of the UAE, said today.
’’Liquidity shortage, which emerged as one of the major challenges the banks operating in the country have faced recently in view of the global financial crisis, was casual and liquidity rates are getting improved thanks to a set of measures taken by the federal and local governments,’’ he told a discussion panel organised by the UAE General Women’s Union on the impact of the international financial crisis on UAE women and family.
’’Response of the UAE to the crisis was prompt and timely, giving quick birth to indications of remedy,’’ he added.
The Governor revealed that the apex bank sent messages to banks before the eruption of the crisis in August warning them against the risky world financial situation, and demanding them not to refuge to some certain practices he didn’t specify.
On inflation, he said if rents of residential units went down, inflation would follow suit. He expected the inflation to drop to 5 per cent during the year.
|
New
Review
Abu Dhabi International Airport - 41°F
