Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

UAE

Moodys Retains Negative Outlook On UAE Banks

Moodys Investors Service has maintained its negative outlook on banks in the UAE, citing a weak operating environment, over-supply of properties in the real estate market, and significant asset quality challenges posed by the Dubai World debt restructuring. In 2009, systemic support from the federal government eased the financial challenges of UAE banks, while capital levels and good core...