No nation has embraced Total Quality Management, e-commerce and e-government with greater enthusiasm than Dubai. Such innovations have given Dubai a competitive edge and an accelerated growth rate that few could match.

One of the main characteristics that differentiates Dubai from other commercial centres is its openness to innovation and the freedoms it grants people and institutions to operate.

Dubai's world class physical infrastructure has already established it as a major player in terms of trade tourism and as the leading conference and exhibition venue in this part of the world.

In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.

Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.

Sometimes there are customers who get in difficulty because of situations that are out of their control. These are customers with genuine needs, and the role of the bank is to accommodate these customers, and there is a real need to reschedule the loans of these customers.