Complex Made Simple

UAE must boost efforts on debt market, says c. bank governor

UAE central bank governor Sultan Nasser al-Suweidi has said the country needs to double efforts to create a local market for government and corporate bonds, Reuters has reported. "When it comes to adequacy and quality of capital, we don't have any difficulty in securing capital adequacy in the short run," al-Suweidi told a financial workshop in Abu Dhabi. "As for liquidity, the difficulty lies in the fact that there are no sufficient government debt instruments. It will be important to double efforts locally to create an active market for government bonds as well as high quality corporate bonds," he said.