ABU DHABI // The country should take steps to insulate itself from global economic uncertainty, the Governor of the Central Bank said Thursday.
Sultan al Suwaidi told a banker’s lunch at the Emirates Palace hotel that the country’s financial system had felt the pain of the global crisis, even though its banks had not ventured into risky structured investment products and derivatives that helped spark the crisis in the West.
“If we analyse things to find out why the UAE financial system was affected by the crisis, one major reason is that we have taken the global financial system for granted when we take part in any shortcomings,” Mr al Suwaidi said.
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