The United Arab Emirates central bank said on Wednesday it would form a committee with bank officials, its latest move to deal with the challenges posed by global financial turmoil.
Most Gulf Arab countries have sought to ease tight liquidity and prop up sagging investor confidence with an array of policy steps since the global credit crisis deepened in late September.
Last month, the UAE central bank bought $10 billion in Dubai government bonds to give state-linked firms in the former Gulf Arab boomtown access to cash to settle debts as they face a real estate slump.
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