At this moment, financial crisis is a burning question all over the world because the global financial system is now on threat. The experts hope any time a serious damage can be happened, in these circumstances, the government of United Arab Emirates (UAE) recently announced a plan of series steps to secure the country from the international financial crisis. The state-run Emirates News agency (WAM) reported that the cabinet, presided by Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed Bin Rashid AI Maktoum, in October approved a series of internal preventive steps and measures for maintain its current financial system.

After the cabinet session, in a press briefing Sheikh Mohammed said ‘out of keenness to serve national interest, ensure continuity of economic growth and protect national economy‘, he added ‘We are determined to protect our financial and banking system out of keenness to preserve the interests of our country and people. On the other hand, UAE President Sheikh Khalifa Bin Zayed Al Nahyan ensured that the UAE economy is strong enough and sound that its banking system is so solid and efficient.

According to, these special preventive steps and measures, the federal government will confirm that none of the UAE national bank will be exposed to credit risks, guarantee deposits and savings. Moreover, guarantee all inter-bank lending operations among the banks operating in the UAE in order to inject satisfactory liquidity in the financial system if when necessary. Now, wait to observe can these step protect the UAE financial system while many developed and modern country struggle to restore their financial system.

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