UAE banks cash situation good | GulfNews.com:
"The UAE banks are flush with depositors’ cash once again as the country’s political stability and sustainable economic growth embellish its safe haven appeal to regional and global investors at a time when the geopolitical tensions in the region are rising, particularly in Egypt, say financial experts.
They also say that much of this cash would eventually find its way into the country’s realty and stock markets which have seen a resurgence in recent months after a long lull following the global financial crisis.
“As long as there’s turbulence outside, the UAE banks are going to benefit. Interest rate offered by the banks is not the driver, it’s the stability of the UAE banking sector and the safety of the funds deposited in its banks, which is attracting the depositors,” Tariq Qaqish, head of asset management at Dubai-based Al Mal Capital told Gulf News."
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