Loans at United Arab Emirates' (UAE) banks exceeded customer deposits by 110 billion dirhams ($29.95 billion) and the government was looking for a way to bridge the gap, the UAE central bank's governor said on Monday. "The current situation requires a stimulus plan for banks and the economy in view of this 'gap' which could be bridged in collaboration with the Ministry of Finance," said Sultan Nasser al-Suweidi, according to state news agency WAM.
He gave no further details of a plan he first mentioned at a bankers' meeting last month.
The finance ministry of the second-largest Arab economy said last year it would invest 70 billion dirhams into long-term deposits at banks struggling to cope with tight global credit conditions.
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