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UAE Facility To Back Funds In Banking System
By Martin Dokoupil |
November 30, 2009, Monday
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Print Edition
Print Edition
THE United Arab Emirates' central bank set up a facility yesterday to support liquidity in the banking system as Dubai sought to delay debt payments from two of its flagship firms, sending global markets lower.
"(The) central bank has issued a notice to UAE banks and branches of foreign banks operating in the UAE, making available to them a special additional liquidity facility linked to their current accounts at the central bank," it said in a statement.
"(The) central bank has issued a notice to UAE banks and branches of foreign banks operating in the UAE, making available to them a special additional liquidity facility linked to their current accounts at the central bank," it said in a statement.
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