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FINANCIAL NEWS
IMF says UAE banking system is stable
11 Jun 2012
(MENAFN) The International Monetary Fund (IMF) stated that the UAE’s banking system is stable and banks are in a good shape, reported Khaleej Times.
The IMF added that the country’s central bank is able to deal with any possible situation, as it has enough foreign currency reserves.
However, the IMF urged the UAE to develop domestic debt markets to ease banks’ liquidity management and slash dependence on foreign financial support.
It is worth noting that the average capital adequacy ratio of UAE banks is 20 percent, and they have Tier 1 capital ratio of 15 percent.
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