Monday 14 December 2015

A question of liquidity as UAE banks ‘creak’ amid low oil | The National

A question of liquidity as UAE banks ‘creak’ amid low oil | The National:

"In delivering a particularly candid view of the UAE financial situation, the regional investment banking head of one of the biggest banks in the world does not want to be named.

“The big issue now is liquidity. After a year of low oil prices, the banking system is creaking. It is not at 2009 levels yet, but the alarm bells are ringing,” he says.

“It could be that we are only one black swan event away from a repetition of the financial crisis back then, when Dubai was a hair’s breadth away from insolvency.”"



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