MAS Statement on Dubai World/UAE

MAS has been closely monitoring developments of Dubai World and United Arab Emirates (UAE) and their impact on Singapore's financial sector.

Singapore's banking sector's total gross exposure to UAE, of which Dubai is one of seven emirates, is well below 1% of total banking assets. We do not expect developments in Dubai to adversely affect Singapore's financial stability.

MAS continues to be in close contact with the financial institutions here, and with central banks and regulators in key jurisdictions.

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