UAE central bank says banks operating normally amid tensions

The United Arab Emirates’ banking system remains fully operational despite escalating regional conflict between the US, Israel and Iran, the central bank said, as authorities sought to reassure markets following missile and drone attacks on the country this week.

Central Bank of the UAE Governor Khaled Mohamed Balama said banks, financial institutions and insurers “continue to operate with full efficiency and stability,” and that the sector is showing “the highest levels of resilience and stability.” Regional tensions escalated after Iranian drone and missile attacks targeted the UAE and neighboring countries last weekend; debris from intercepted projectiles reportedly caused fires and damage near several sites in Dubai, including infrastructure around Jebel Ali Port and Dubai International Airport.

United Arab Emirates, Dubai

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