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Latest News

Further Dubai aid ‘won’t be necessary’

Emirate isn’t likely to need more central bank support, says Sultan bin Nasser al-Suwaidi.

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March 15, 2010 6:43 by



Dubai will not require any more central bank support in the wake of Dubai World’s $26 billion debt standstill, according to UAE Central Bank Governor Sultan bin Nasser al-Suwaidi.

“They haven’t discussed this issue with us and I don’t think it will be necessary,” al-Suwaidi told Bloomberg.

“All banks will be treated equally and in a fair way. There will be no discrimination between local or international banks,” al-Suwaidi added, in reference to Dubai World’s restructuring proposal to its creditors.



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