Business | Economy
Mohammad, Brown hold talks
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday said joint cooperation between Emirati and international financial and banking institutions will help revive the flagging global economy.
- By Suzanne Fenton, Staff Reporter
- Published: 23:43 November 4, 2008
- Shaikh Mohammad received in Dubai British Prime Minister Gordon Brown and discussed with him bilateral relations and global economic issues.
- Image Credit: WAM
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday said joint cooperation between Emirati and international financial and banking institutions will help revive the flagging global economy.
Shaikh Mohammad held talks on Tuesday with British Prime Minister Gordon Brown during his brief visit to the GCC.
Brown said he was confident that the UAE leadership would be keen "to help set a required balance in the world financial system".
He added that the UAE was one of the first countries in the world to back its own economy and protect its financial and banking organisations, by injecting liquidity into the banking sector.
In addition to reinforcing the business relationship between the UAE and the UK, Brown was seeking to add to the IMF's $250 billion (Dh917.5 billion) fund.
The fund is slowly depleting following financial assistance given to Iceland, Ukraine and Hungary.
Brown had expressed his optimism of the wealthy GCC states, including Saudi Arabia, Qatar and the UAE, contributing hundreds of billions of dollars to the fund.
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