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UAE has recovered quickly from the global financial crisis : Hamdan
2009-05-31 23:25:57
WAM Dubai, 31st May 2009 (WAM) -- The UAE has managed under its prudent leadership to recover from the world financial crisis rapidly, said H. H. Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, at a keynote address to the Islamic banks conference.

''The conference seeks to devise a sound concept to deal with the choking economic crunch the governments, firms and individual are passing through,''Sheikh Hamdan told the meeting which was opened by H.H.

Sheikh Majed bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority.

The Four-day banking forum is being organised by the Department of Islamic Affairs and Charitable Activities (DICD).

''Dubai has the honour as the leader of the Islamic banking industry when Dubai modern maker the late Sheikh Rashid bin Saeed Al Maktoum launched the Dubai Islamic Bank,'' Sheikh Hamdan said in his address read on his behalf by Dr. Hamad Al Shaibani, Director General of DICD and chairman of the conference.

''It is our duty to protect this industry by complete financial transparency,' he added.

The conference will discuss papers on legal situation of Islamic banks, inter-bank coordination and Islamic banking solutions.

WAM/TF
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