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UAE central bank backs banks with exposure to Dubai World

Posted on 15 December 2009

From Xinhua: The Central Bank of the United Arab Emirates (UAE) said Monday that it would stand behind banks in the country including those with exposure to the state-owned conglomerate Dubai World and its subsidiary Nakheel, the official news agency WAM reported.
The UAE Central Bank, which has been in consultation with the Dubai government over the last two weeks, is pleased to see the Dubai government’s announcement regarding Nakheel Sukuk (Islamic bond) earlier in the day, the bank was quoted as saying in a statement……………………………….Full Article: Source

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