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UAE Central Bank backs mergers to soften crisis
- United Arab Emirates: Tuesday, November 11 - 2008 at 12:53
The UAE Central Bank Governor said yesterday that the bank will support any move to soften the impact of the global financial crisis on the local economy and the financial sector, including mergers and acquisitions, reported Khaleej Times. Sultan bin Nasser Al Suwaidi said the Central Bank has not received any applications for mergers between local banks, but had nothing against consolidation.
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Jeff Florian, Senior ReporterTuesday, November 11 - 2008 at 12:53 UAE local time (GMT+4)
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