17.03.2009 - Mashreq announces intent to convert state deposits into regulatory capital
From Gulfnews.com: Dubai-based Mashreq said on Sunday it would convert federal government deposits into regulatory capital after similar moves by several United Arab Emirates banks seeking to improve asset quality as the financial crisis bites. Banks in the second-largest Arab economy, where Dubai is facing a real estate price correction, are looking to shore up their stockpile of capital as loan defaults mount and they take provisions for more bad loans to come..... Full Article: Source