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
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.