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Article: UAE banks face $11bn liquidity deficit.

Article from:
Kippreport
Article date:
October 13, 2009
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Byline: Kipp

Summary: Banks in the UAE are reeling underC*

Banks in the UAE are reeling under bad debts and face liquidity shortfalls of around $11 billion, Shayne Nelson, Standard Chartered's CEO in the Middle East said on Tuesday. "Liquidity is still short. Its AED30-40 billion short. (This is) the difference between advances and deposits. Straight math," Nelson said.

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