UAE economic, banking industry pliant, steady

Sultan bin Nasser Al-SuwaidiOn Monday Sultan bin Nasser Al Suwaidi, Governor of Central Bank of UAE, expressed that the on the whole presentation of its banking segment is optimistic, steady and keep going that was in addition authorized by the Standard and Poor's Credit Rating Agency.

He expressed in 2010, the UAE's graded 20 at the World Economic Forum in Davos in the middle of the nations that have attained the most excellent financial growth during 2009.

He expressed that the UAE financial system is `quick to recover along with a 2.3 percent climb in bank lending previous year, so there is no requirement for the administration to insert additional liquidity into the banking scheme. He expressed that the UAE real estate subdivision is not more than endowed for the reason that it does not obtain all the required finances from banking subdivision in the nation.

He put in plain words that banking investments of Hong Kong and Singapore in their real estate division are more than the UAE that is 20 percent of the credit strategy. He in addition conversed regarding the forecast of Islamic banking, probability of having widespread financial and currency in the Gulf Cooperation Council nation.