ABU DHABI - The oil-rich United Arab Emirates said Sunday it will guarantee deposits and savings in local banks to protect depositors in face of the global financial turmoil. The UAE cabinet also decided to ensure that no local bank will be exposed to credit risks and to guarantee inter-bank lending among all banks operating in the country, state WAM news agency reported. The UAE, the first oil-rich Gulf country to...
photo: WN / Julie Adnan
