Younis Al-Khoori, the Director General of the Finance Ministry of UAE, has ruled out the possibility of the government issuing bonds this year. He expressed commitment to help the banking sector of the country if need arises on liquidity front.

Al-Khoori said that banks have almost come out of global recession and they do not need any liquidity at this point of time. The UAE banks have strong economic fundamentals and they weathered the adverse impact of global financial crisis effectively due to proper management of their available resources.

Al-Khoori told, "We may not be able to go to the market by 2010. We are still in the process of setting up the debt management office."

He added that government has been reviewing the results of every bank periodically and did not see any need for further injection of liquidity.