Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013. REUTERS
DUBAI, March 5 (Reuters) – The United Arab Emirates central bank governor said on Thursday, six days into the conflict in the Middle East, that the country’s banking and financial sector is resilient, strong, stable, and well-positioned to navigate regional developments.
He added that capital adequacy ratio currently stands at 17%, while liquidity coverage ratio exceeds 146.6%.
UAE stock markets fell in early trade on Thursday after reopening on Wednesday following a two-day suspension triggered by Iran’s missile and drone attacks on the Gulf state after U.S. and Israel launched strikes on Iran on Saturday.
Reporting by Hadeel AlSayegh, Writing by Ahmed Elimam, Editing by Philippa Fletcher
