The UAE banks have virtually no exposure to Lehman Brothers and that there was no systemic risk in the UAE as a result of the fall out in international money markets, the UAE Central Bank affirmed Thursday according the Emirates News Agency WAM.
In a press release it issued on Thursday, the apex bank stressed the soundness of the UAE banking system.
The Central Bank today hosted a meeting in Dubai, which was attended by CEOs, General Managers and Senior Officers of all banks operating in the UAE.
The release said many issues were raised and the Central Bank encouraged banks to improve cooperation when dealing in the UAE inter-bank deposit market.
Various suggestions for boosting liquidityof banks were also discussed, which will be considered by the Central Bankand appropriatedecisionswill be taken very soon.
At the end, the Governor, H.E. Sultan Bin Nasser Al Suwaidi, thanked the participants for their valuable contribution.
WAM
