With the tumultuous ride of 2008 fading, banks in the UAE are unsure of what awaits them in the New Year. Slower growth? Check! Tightened liquidity? Check! A troubled real estate sector? Check! The uncertainty comes in what else will banks operating in the Emirates have to deal with and how exactly will they weather the aftershocks of last year? Waiting with baited breath, investors and analysts alike are anticipating the disclosure of fourth quarter 2008 results in the coming weeks. Before making any sudden moves, experts across the board agree that this year’s first quarter results will have an enduring affect on the banks’ performances for the remainder of the year. Moody’s Investors Service has already declared a “negative outlook” for the UAE banking sector in 2009. While statistics are momentarily unavailable, there are a few indubitable issues that banks in the UAE will be facing in 2009; with
