U.A.E. Shares Climb, Led by Banks, Developers; ADCB Leads Gains

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United Arab Emirates stocks rose, with Abu Dhabi’s index climbing for a fifth day, as Al Bayan reported the chairman of Dubai’s supreme fiscal committee said the emirate’s banks have overcome the global liquidity crisis and resumed lending.

Abu Dhabi Commercial Bank PJSC, the third-largest bank in the U.A.E., is headed for the highest close in more than a month. Sorouh Real Estate PJSC, the emirate’s second-biggest property developer, added as much as 4.3 percent. Abu Dhabi’s ADX General Index gained 0.8 percent to 2,685.68 at 1:24 p.m. in the emirate, bringing the five-day advance to 3.3 percent. Dubai’s measure added 0.4 percent as the emirate’s biggest bank, Emirates NBD PJSC rose for a second day.

Sheikh Ahmed bin Saeed al-Maktoum commented on Dubai banks at the opening of a new branch of Noor Islamic Bank, according to the newspaper.