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Dubai says sets up panel to tackle crisis impact

Wed Nov 19, 2008 4:42am EST

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DUBAI, Nov 19 (Reuters) - Dubai has set up a committee to recommend ways to tackle the impact of the global financial crisis on the emirate's economy, including real estate and banks, a government finance official said on Wednesday.

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"The purpose of the committee is to assess the impact of the global financial crisis on Dubai and what can be done in sectors including real estate and banking," said Nasser al-Shaikh, director-general of the Dubai Department of Finance.

"It will make recommendations to the ruler on the way forward for critical areas that have to be tackled to withstand future challenges," Shaikh told Reuters.

The committee is headed by Mohamed Alabbar, chairman of Emaar Properties (EMAR.DU), he said. (Reporting by John Irish; Editing by Inal Ersan)

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