Moody's

UAE banking outlook negative according to Moody's

Rebecca Bundhun reported on 14 January in Arabianbusiness that Moody's sees the fundamental credit outlook for the UAE banking system as negative, as it comes under strain from falling property prices and tightening liquidity conditions. Moody’s Investors Service said on Wednesday its prediction covered the next 12 to 18 months and reflects the number of bank loans given to 'opportunistic' developers, who would struggle to repay them as the property market undergoes a correction.

John Tofarides is a Moody's analyst.

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