The United Arab Emirates' central bank has no intention of changing the minimum reserves for banks as liquidity of banks operating in the country was good, a senior central bank official was quoted as saying on Wednesday.
The central bank of the UAE, the world's third biggest oil exporter, had no intention to modify the minimum mandatory reserves for banks at the current stage, Seif al-Shamsi, executive director for the treasury department at the UAE Central Bank, told Arabic language daily Al-Khaleej newspaper.
Lending in the UAE's banking sector have almost come to a standstill when the financial crisis and the Dubai debt crisis hit the region and the emirate's real-estate driven boom came to a halt.
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