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Banks ordered to report Lehman exposure

The United Arab Emirates central bank has asked local banks to report any exposure to Lehman Brothers, which filed for bankruptcy earlier this week, by Thursday, three bankers said on Wednesday.

The central bank issued a directive for all banks on Tuesday, according to the bankers.
"We will shortly be responding to the Central Bank request," one said, declining to be identified.

Three of the United Arab Emirates' largest banks had told newswire Reuters on Tuesday they had limited or no exposure to the turmoil surrounding Lehman Brothers.

UAE Central Bank Governor Nasser Al-Suweidi also said on Tuesday there was no systematic risk to the banking sector in his country following the financial turmoil in the US.

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