UAE banks hit by Saad can turn to cbank

United Arab Emirates banks with exposure to troubled Saudi conglomerates Saad Group and Ahmad Hamad Al-Gosaibi and Brothers Co may tap central bank resources if needed, a senior official said Monday.

The central bank will "assess" each request for help, Rashid al-Fandi, executive director for banking operations at the central bank told reporters in Abu Dhabi.

"They can mortgage their securities to the central bank ... and issue commercial paper," Fandi said.