UAE central bank created a new mechanism to support banking liquidity .

Central Bank of the United Arab Emirates announced the creation of an emergency financing mechanism to support bank liquidity in response to the debt problems of Dubai, paralyzing lending and threatening to derail economic recovery. CB also assured that the UAE banking system is now healthier, and its liquidity is higher than a year ago. According to analysts, this move is a preventive measure to stop capital flight and the flight of deposits, when the exchanges reopen after four days of holidays.