From Arabfinance.com: Banks in the United Arab Emirates are facing a liquidity shortfall of up to $11 billion and are suffering from bad debt due to unsecured lending, a Standard Chartered executive said on Tuesday.

Shayne Nelson, the bank’s chief executive in the Middle East, told a conference the country’s lenders were coping with a liquidity shortfall of 30-40 billion dirhams ($8.2-$10.9 billion)…………………..Full Article: Source