UAE Banks protected

This news is welcome. Guaranteeing the deposits of banks in the UAE puts my mind at rest, for the moment. I dread to think how you’d actually get your money back in the event of a bank failing though.

My vast wealth can reside with my bank here for the time being. We were on the verge of raiding every local ATM and using the cash to fill my failing mattress.

In other banking news, a friend of ours told me recently that his mortgage is collected by monthly direct debit by his local mortgage company. I had to write 72 cheques for my monthly payments, with the difference apparently being totted up every two years, followed by either a refund or my paying the extra. Not particularly clear or efficient for either party.

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