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NEWS » Banking, Finance & Insurance
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$5.45bn left in UAE bank facility: ministry
Dubai:
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The UAE still has Dh20 billion ($5.45 billion) left out of a 70-billion-dirham facility set up in 2008 to inject liquidity into the country's banking system, the emirate's deputy finance minister said on Wednesday.
'Dh20 billion is still with us. Twenty from the Dh70 billion,' Younis al-Khouri, director general at the finance ministry, said when asked about how much of the facility has been used so far.
Lenders in the UAE used the facility established during the financial crisis to help revive liquidity among the banks. – Reuters
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