Global Banking News-August 4, 2011--Banking association in Denmark faults government stance on not guaranteeing bank
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Dubai -- Thanks to the policies taken by the government such as guaranteeing bank
deposits and pumping in Dh120 billion to support the banking sector, the United Arab Emirates' national economy has proven its strength and competence in dealing with the repercussions of the economic crisis, said Sultan Bin Saeed Al Mansouri, Minister of Economy, during a press conference last week.
Besides, the government also plans to adjust its policy of fully guaranteeing bank
deposits, by shortening the guarantee term or reducing the guaranty amount.
A GOVERNMENT bill guaranteeing bank
deposits up to e1/4100,000 is in its final stages and should come before parliament for voting sometime over the next couple of weeks.
The Federation of Small Businesses said a survey of thousands of companies found that moves aimed at guaranteeing bank
lending and boosting consumer spending were having "no impact.
MINISTERS yesterday pledged to explore guaranteeing bank
loans to crisishit car manufacturers in a bid to kick-start lending, after an emergency summit.
The federal government provides student loans for college and graduate school in two ways: by guaranteeing bank
loans, and by lending directly to students.
Under his plan, which passed in Congress that summer, the government went beyond merely guaranteeing bank