Suwaidi denies report that he is resigning

Dubai: United Arab Emirates Central Bank Governor Sultan Bin Nasser Al Suwaidi denied a Dow Jones report that he was planning to step down as early as December 18, the news agency WAM reported on Tuesday.

"This report is absolutely not true, it is baseless and worthless," Suwaidi said, according to WAM.

Suwaidi was tipped to be replaced by Saeed Mubarak Rashid Al Hajeri, chairman of Abu Dhabi Commercial Bank, Dow Jones said, citing officials at the central bank, who declined to be identified.