Abu Dhabi – Mubasher: There is a "limited interconnectedness between the UAE and the UK financial systems", said the Central Bank of the UAE.
It added that there were only few channels through which uncertainty about future of the UK-EU relations could affect the UAE financial institutions, Emirates News Agency (WAM) reported on Saturday.
UAE-based banks do not depend on foreign interbank markets to fund their balance sheets, with their consolidated net foreign interbank position being positive, WAM added, citing the UAE's Central Bank.
In line with all major central banks, the UAE's Central Bank will continue to monitor developments in the unfolding economic implications of the UK's vote to exit the EU, particularly those that may impact the UAE economy.
