ID :
98636
Thu, 01/07/2010 - 15:32
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https://oananews.org//node/98636
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Central Bank Governor: UAE banks face no liquidity problems
Sharjah, Jan 7 2010 (WAM)- The banks in the UAE do not face any liquidity problems, but enjoy high liquidity and are not in need of any additional support, said the Governor of the UAE Central Bank HE Sultan Bin Nasser Al Suwaidi.
In remarks made on the sidelines of the opening of the new headquarters of the Sharjah Islamic Bank (SIB), Al-Suwaidi also said that the global economic and financial crisis has stabilised somewhat, which reflected positively on the UAE.
The economic growth in the UAE will not be enormous in the coming period and we will not have to talk about inflation as its rate will be very low, He added.
Al-Suwaidi also noted that property prices in the UAE have declined to the point of becoming attractive for investment.
He reiterated that the UAE dirham will continue to be pegged to the dollar, and there would be no participation in the unified Gulf currency.
He praised the efforts that have contributed to the establishment of new headquarters of the Sharjah Islamic Bank, which has become more integrated and supports the work of the bank and develop its services to its customers.
Speaking on this occasion, CEO of Sharjah Islamic Bank Mohammad Abdullah said that the financial solvency of the bank equals 27 percent of the capital. He asserted that the liquidity and safety of the bank's investment portfolio are sound and profits for 2009 are good
In remarks made on the sidelines of the opening of the new headquarters of the Sharjah Islamic Bank (SIB), Al-Suwaidi also said that the global economic and financial crisis has stabilised somewhat, which reflected positively on the UAE.
The economic growth in the UAE will not be enormous in the coming period and we will not have to talk about inflation as its rate will be very low, He added.
Al-Suwaidi also noted that property prices in the UAE have declined to the point of becoming attractive for investment.
He reiterated that the UAE dirham will continue to be pegged to the dollar, and there would be no participation in the unified Gulf currency.
He praised the efforts that have contributed to the establishment of new headquarters of the Sharjah Islamic Bank, which has become more integrated and supports the work of the bank and develop its services to its customers.
Speaking on this occasion, CEO of Sharjah Islamic Bank Mohammad Abdullah said that the financial solvency of the bank equals 27 percent of the capital. He asserted that the liquidity and safety of the bank's investment portfolio are sound and profits for 2009 are good
