We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Get that money flowing

Get that money flowing

UAE banks may be getting government help to boost lending in the Emirates, says Dubai World chairman, Sultan Ahmed bin Sulayem


February 19, 2009 12:10 by

The UAE federal government is planning a stimulus plan to help banks to kick-start lending, reports Bloomberg. The stimulus plan may help boost the country’s ailing property sector, which has suffered considerable losses due to the credit crisis.

“If we want the banks to lend again to real estate, then obviously governments will have to put a plan,” Sultan Ahmed bin Sulayem, chairman of Dubai World and member of the Advisory Committee created by the Dubai government to offset the effects of the financial crisis, said to Bloomberg yesterday.

In Dubai, real estate prices have dropped 25 percent since the market’s peak in September; in Abu Dhabi, prices fell by 20 percent, according to a report by Morgan Stanley.

With bank lending at a standstill, Dubai World has had to lay-off staff and to reassess its future projects, Sulayem said. Dubai World owns DP World, Istithmar World, Nakheel PJSC, among others.

“This mess globally, is so big, only governments can tackle it in my opinion, because they have to restore confidence,” he said.

On February 17, The National reported Standard Chartered Bank’s recommendation of a AED110 billion injection into the banking system to help banks resume lending. “First, the government must increase its expenditure substantially, and second, it needs to address the liquidity issue,” Marios Maratheftis, the regional head of research at the bank said at the time.

Maratheftis stressed that the nation is strong financially, but needs to implement stimulus plans to help boost the UAE’s economy.


Tags: , , , ,

Leave a Comment