UAE unified government account surplus up 39.5% to Dhs200.7bn

Its influence on government decisions is seen as a natural requirement, and evidence of a healthy economical process that calls for the protection of all investment practices.

Moreover, the public announcement of monetary policies by countries throughout the world is increasing confidence in these economies and their ability to face crises and resolve the negative mentality that has surrounded the investment process. It also encourages sustained real estate activity, and even an increase in growth rates, as well as a successful recovery process.

Commenting on the subject, Dr Abdul Rahman Al Tasan, CEO of Rakaa Properties, said:

"The UAE's monetary policy has distinguished the country globally as transparent, whether in times of crisis or stability. The UAE unified government account holds a surplus Dhs200.7bn, which represents an increase of 39.5% from 2007, or Dhs72.5bn."

"Government support of the banking sector, which includes Dhs120bn to be submitted in two installments to active banks in the country during times of need, is the balancing factor between profit and risk, the maintenance of stability in the market, and the guarantee of cashflow, despite the aggravating crisis," added Al Tasan, whose company is currently developing two residential towers on Abu Dhabi's Al Reem Island using Smart Building technology, with a total value of Dhs1.5bn.

The UAE has 49 active commercial banks in the financial projects sector, including the Central Bank, the highest financial authority in the country, which has 763 branches across the UAE. The country also has two investment banks, 26 financing companies boasting 37 branches, 80 offices representing foreign countries in the UAE, and 105 exchange companies working through 457 offices throughout the UAE. These numbers reflect the growth of the banking sector, and its capability to adapt to various scenarios.