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UAE liquidity package terms modified
- United Arab Emirates: Sunday, February 22 - 2009 at 14:12
The UAE Ministry of Finance has modified the terms of its Dhs70bn liquidity package. The government has assured the banks that it would only seek equity stakes if a bank fails to pay back the interest, principle amount, or if the bank offers equity against the loan. The new amendment also gives the banks an option to convert the Dhs50bn made available so far into Tier -2 capital.
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StaffSunday, February 22 - 2009 at 14:12 UAE local time (GMT+4)
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