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.

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.

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.

In the past, the West had tried to export one formula of democracy which should fit to the rest of the world, and they discovered that this doesn't work.

One way to ease liquidity for banks is that the government can buy all highly rated securities held by the banks. Every single bank in the U.A.E. has some sovereign debts in their portfolios. I am not asking them to buy any junk bonds, rather the high quality U.A.E. government debt.