The UAE banks have not been affected by the ongoing debt crisis in Europe, due to “a very low” exposure, the UAE Central Bank Governor Sultan bin Nasser Al Suwaidi said on Thursday.
He said in the past couple of years the nation’s risk averse banks were busy tackling the negative effects of the 2008 meltdown that’s why the credit growth in the country is very low.
However, the governor feared that the European crisis might have some negative impact in the future if the oil prices fall.
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