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Abu Dhabi support seen likely for UAE central bank

09 March 2010

Ratings agency Standard & Poor's has said that the government of Abu Dhabi is likely to support the UAE central bank should it need to pump capital in the domestic banking sector, Reuters has reported. 'We would consider it a high likelihood that Abu Dhabi will support the UAE central bank in its efforts to stabilize, if the need arose, the UAE banking system through capital injections," Farouk Soussa, head of S&P's Middle East sovereign ratings, told reporters in a conference call

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