Impact of UAE's Monetary Policies on Bank Borrowing: A Study on Emirates National Bank of Dubai

This dissertation investigates the impact of using different UAE policies and procedures on bank borrowing within the banking industry, specifically focusing on Emirates National Bank of Dubai. The research aims to identify the contribution of UAE's monetary policy and procedure in governing the banking industry, evaluate the drawbacks of UAE monetary policy and procedure that affect the borrowing of the banking industry, assess the relationship between using monetary policies and procedures and borrowing from Emirates National Bank of Dubai, and recommend policies to the UAE government to reduce the drawbacks to the banking sector. The research outcomes will show the strengths and weaknesses of UAE monetary policy while governing the banking industry.

Dissertation: Impact of using monetary UAE policies and
procedures on bank borrowing within the banking industry

EXECUTIVE SUMMARY
It has been analysed from the dissertation that dissertation aims to investigate the impact of
using different UAE policies and procedures on bank borrowing within the banking industry: A
study on Emirates National Bank of Dubai.
The Aim and Scope of the study are determined by analysing the impact of using different
UAE policies and procedures on Bank borrowing within the banking industry. This has been
performed by understanding the scope of what the dissertation is delivering. The significance of
the research is that it helps in knowing and gathering information about the impact of using
different policies on Bank borrowing within the Banking System.
Limitations of the study have been found and addressed as idealising the points and aspects
identified as having less time for the research to be completed.
It has been analysed from the dissertation that all details have been gathered with specific
knowledge and understanding at a large scale. This has helped to evaluate the purpose of the
research being directed appropriately and at a large scale. A detailed analysis of all the aspects
used within the research has been done correctly. The results have gained significant data, and
analysis through the interpretation of the data was done appropriately in graphs. This is the
manner which helps in signifying that the research has been framed by focusing on step by step
formation of the study being framed appropriately. This primary concern has helped illustrate
that the research aims to produce the plans and procedures by working appropriately. This has
been more significant and indicative of the large-scale conclusions and findings.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
GLOSSARY ...................................................................................................................................2
TITLE - Impact of using different UAE's policies and procedure upon bank's borrowing within
banking industry...............................................................................................................................4
INTRODUCTION...........................................................................................................................6
Background..................................................................................................................................6
Research aim................................................................................................................................7
Research objectives......................................................................................................................7
Research question........................................................................................................................8
LITERATURE REVIEW................................................................................................................8
Introduction..................................................................................................................................8
Theme 1 - Contribution of UAE's monetary policy and procedure while governing banking
industry .......................................................................................................................................8
Theme 2 - Drawbacks of UAE monetary policy and procedure affecting borrowing of banking
industry .....................................................................................................................................10
Theme 3 – Relationship between using monetary policy and procedures within borrowing
Emirates National Bank of Dubai..............................................................................................13
RESEARCH METHODOLOGY...................................................................................................15
DATA ANALYSIS........................................................................................................................20
Introduction................................................................................................................................20
Questionnaire ............................................................................................................................20
Interview....................................................................................................................................26
RESEARCH FINDINGS...............................................................................................................30
RECOMMENDATIONS...............................................................................................................31
ETHICAL CONSIDERATIONS ..................................................................................................32
CONCLUSION .............................................................................................................................33
REFERENCES..............................................................................................................................35
APPENDIX....................................................................................................................................39
Questionnaire.............................................................................................................................39
Interview questions:...................................................................................................................41

INTRODUCTION
Higher authorities in the United Arab Emirates have assured keen focus on making
different UAE policies that have impacted the bank's borrowing within the banking industry
(Osmanovica et al., 2020). The banking sector significantly impacts the country's economy (Al
Ali, 2021). Thus, the impact that has been created on the bank directly impacts the country's
economy. Therefore, the policies taken into consideration must be taken in such a way that they
help add effectiveness to the nation's economy. However, the impacts of the selected policies can
be positive and negative (Alhosani et al., 2019). The same might goes with the impact of the
UAE's policies... Various policies have been taken in the UAE to assure fluent economic growth.
For example- Monetary policies in UK are the main policy which is stablilising the economic
growth within mainraining the cash flow in economy. (Ashok and Baskaran, 2022). However,
the banking sector plays a vital role in driving the economy as the banking sector mainly
determines the cash flow in the economy withing depositing and crediting fund to the public.
An outlook of the UAE banking sector has revealed that banks have experienced the
impact of UAE's policies in positive and negative ways. UAE's banking system mainly operates
within a sustainable gross debt position of 23%. (Darayseh and Alsharari, 2022). This has been
determined as the significant amount that can be used for external liquid assets. However, it can
only be used when the bank's access to external funding is not restricted. Support of the
government to the banking sector by reducing restrictions can be proven effective (Naimy and
Kattan, 2020). Thus, support has been created for implementing policies. Sometimes, access has
been assured, and sometimes, restrictions have been made within implementing UAE's policies.
Thus, different UAE policies impacted banks and influenced the banking industry's borrowing
procedure. In this manner, an impact has also been created on the economy. The research
outcomes will show the strengths and weaknesses of UAE monetary policy while governing the
banking industry.
Background
The UAE's banking sector has to deal with less stability regarding the economy's positive
outlook. Lowering oil prices and higher interest rates has become a significant hurdle for UAE's
banking sector as it impacts the return on assets and equity (Muhammad, Basha and AlHafidh,
2019). The real estate sector has been undergoing a correction, and the debt level among

government-related entities has remained high. Banks have strengthened sustainability in the
context of financial position since 2012 (Alhosani et al., 2019). However, the impact of UAE's
policies on the banking industry has influenced bank borrowings in past years. The banking
sector regarding credit and liquidity risks shows their response to the response made to them by
UAE's policies (Bechri and Mohamed, 2021). The banking sector has the capability in terms of
dealing with the adverse economic scenario. The UAE banking sector is adequate strength that
manages drastic economic conditions. However, some measures are still required by the
government for the banking sector in making policies in favour of the banking sector (Mrad and
Mateev, 2020). The particular risk created from the negative impact of UAE's policies damaging
the banking sector's outlook. The decline in oil prices affects the economy and public finance,
which leads to a rise in interest rates.
The current study investigates the impact of using different UAE policies and procedures
on the bank's borrowing. The research outcomes clear the extent to which the positive and
negative impacts of the UAE's policies on the banking sector can be known. The research will
perform a helpful literature review and critically analyse the contribution of UAE's monetary
policy and its procedure while governing the banking industry, along with the drawbacks of
UAE monetary policy and its procedure that impacts the borrowing of the banking industry. It
will assess the relationship between using monetary policies and procedures within borrowing
Emirates National Bank of Dubai. Furthermore, appropriate research methodologies are being
highlighted. Data will be analysed, and final findings will be aligned with practical outcomes.
Research aim
To investigate the impact of using UAE's monetary policies and procedure upon bank's
borrowing within banking industry: A study on Emirates National Bank of Dubai.
Research objectives
 To identify the contribution of UAE's monetary policy and procedure in governing the
banking industry.
 To evaluate the drawbacks of UAE monetary policy and procedure that affect the
borrowing of the banking industry

 Assess the relationship between using monetary policies and procedures and borrowing
from Emirates National Bank of Dubai.
 To recommend policies to the UAE government to reduce the drawback to the banking
sector.
Research question
Q1. What are the impacts of using UAE's monetary policies and procedures on Bank borrowing
within the banking industry?
LITERATURE REVIEW
Theme 1 - Contribution of UAE's monetary policy and procedure while governing the banking
industry
Jumaa and Tawdrous (2019) Elucidate that monetary policy plays a vital role in the growth of the
economy in a country as it directly impacts the money supply in the economy by influencing the
banking sector. The UAE has an effective economy, and one of the primary reasons behind this
is aligned with the impact of monetary policy. The UAE monetary policies manage the
government banking industry. The government uses monetary policy to control the market's
interest rate, which further affects the borrowing rate. Fasano (2020) empirically examined the
relationship between UAE monetary policy and the procedure of the government banking
industry. In order to keep the economy on track and manage inflation, the central bank increases
and decreases the amount of credit in the market which influences public purchasing power and
manages the economic condition.
If prices rise, UAE monetary policy has been tightened by increasing the interest rate. As
a result, higher interest rates made borrowings expensive. In such a situation, the public makes
fewer borrowings. Nakibullah (2019) revealed significant strengths of UAE monetary policy,
causing aggregate demand in the economy. Borrowing is cheaper when the interest rate is
reduced using the monetary instrument. As a result, many borrowings have been made by the
public. The presented theme has been divided into sub-themes in analysing the significant
contribution of UAE's monetary policy and procedure for governing the banking industry.

Theme 1.1 Reserve requirement ratio
In the opinion of Hassan et al. (2021) Reserve requirement ratio has been considered one
of the essential tools of UAE's monetary policy. It is crucial for the central bank that regulates
commercial banks to keep some percentage of their total deposits under the reserves. However, if
the significant goals of the Central Bank are aligned with boosting the money supply growth in
the economy, then the reserve ratio has decreased. Al Ali (2022) stated that the ratio increases
when the objective is aligned with dampening the money supply in the economy. Thus, this
monetary policy tool plays a vital role in expanding the financial institution and smoothing the
demand and supply of money in the market within the governing banking industry. Thus, in the
opinion of Menassa and Dagher (2019), this monetary policy tool increases and reduces the
reserve ratio to ensure stability in the economy.
Theme 1.2 Discount rate tool
Jarociński and Karadi (2020) shed light on the discount rate tool. They said this is one of
the important tools of UAE policy employed by the Central Bank to sustain an appropriate funds
level. This tool is mainly based on the monetary authority's willingness to discount the bank
loans when they run out of the liquidity zone. Also, this tool increases the money demand in the
country, further increasing the banking sector's borrowing rate. The rate is mainly lower than the
rates that are prevailing in the market. In case the objective of UAE monetary authorities is to
decrease the money circulation in the economy, the discount rate has been increased, which
results in discouraging fund injections. On the other hand, if the aim is entitled to extend the
money supply, then the discount rates have been decreased, which plays a vital role in funding
growth that increases the borrowing rate within the banking industry.
Theme 1.3 Open market operations
Rocheteau, Wright and Xiao (2018) Elucidate that open market operations have been
determined as the selling and purchasing of treasury bills along with government securities by
the Central Bank in the context of regulating the money supply to increase the effectiveness of
the economy. When the central Bank purchases securities from the state bank, it provides a high
rate of money for holding as reserves on its balance sheet. Ahmed et al. (2021) elucidate that
when the central bank sells securities to a state bank, it reduces the money supply in the market.

Ibrahim (2020) stated that the banking industry had been governed by UAE monetary policy.
When the securities have been purchased, the money supply needs to be increased in the market.
Whereas, when the securities are sold, the money supply needs to be reduced in the economy.
Theme 1.4 Inflation rate and interest rate
As per Andrade et al. (2018), UAE monetary policy impacts the money supply in the
market, mainly impacting the interest and inflation rates. The financial arrangements have been
made in the nation's monetary policy to keep the inflation and interest rate fixed. The financial
strategy depends on the interest rate in the economy and the total cash that has been supplied.
UAE monetary policy governs the banking industry in terms of increasing and decreasing
interest rates to control the situation of inflation. According to Zulkhibri (2019), When the
interest rate has been increased, the borrowing rate has been reduced, whereas when the interest
rate has been reduced, the borrowing rate of the bank is increased.
Theme 2 - Drawbacks of UAE monetary policy and procedure affecting borrowing of the
banking industry
El Hamiani Khatat et al. (2020) analysed that there are certain drawbacks of the UAE monetary
policy that is impacting the banking procedure in negative terms. Also, it is impacting the
borrowing rate of the banking industry. However, the bank plays a vital role in stabilising the
economy. When negative impacts have been created on banks, it automatically impacts the
country's economy. The functions of the banking industry in the UAE are mainly driven by
monetary policy (Masiha, 2022). Thus, the UAE monetary policy has the complete potential to
impact the banking industry. The key role of the Central Bank is to conduct monetary policy,
mainly achieving price stability and assuring help in managing economic fluctuations (Davis,
2020).
In the views of Pfäuti (2021), it has been said that open market operations which is the
major tool of monetary policy, creates a negative impact on the banking sector as when the
government securities have been sold to state bank then, it reduced the power of money supply in
the market. As a result, the public made fewer borrowings creating a loss for the bank. The major
purpose of a Bank is to lend money and earn profit. Higher borrowings by the public assure a
higher profit for the banking industry; therefore, the public must make higher borrowings so that

the profit can be earned by Bank (Malova and Pivovarova, 2018). However, it is not always
possible for the banking industry to increase the economy's stability and open market operations
when security has been sold. This negatively impacts banks' borrowings in UAE (Bhattacharyay,
2021). The presented theme will explore the major drawbacks of the UAE monetary policy and
procedure that impact the banking industry's borrowing rate.
Theme 2.1 Low-interest rate
As stated by Altavilla et al. (2018), a low-interest rate refers to the situation in which
bank has to lower their interest rates to maintain the money supply in the economy. UAE
monetary policy lowers the bank's interest rate when the money supply needs to be increased in
the market. However, persistently low rates of interest lead to depressing the profitability of the
bank by sapping the interest rate margins. The bank deposits are generally made at the market
rate, which often reflects the oligopolistic power.
According to Rubio and Yao (2020), low-interest rates mainly reduce the banking
industry's profitability, impacting other banking sector functions. In such a condition, the
banking industry is forced to cut its targets for lending money and earning profit. This leads to
creating a massive loss for the banking industry. Thus, the major disadvantage of UAE monetary
policy on the banking sector is that bank needs to lower their interest rate to increase the money
supply in the market, which impacts banks' profitability. However, the higher borrowings have
been made by the public but at a low-interest rate that impacts the targets of the bank. (Presbitero
and Wiriadinata, 2020).
Theme 2.2 Discouragement in the business to expand
As per Lee, Mitchell and Lederer (2019), significant challenges and issues are hindering
growth and development on a large scale due to the challenges and problems faced by the
banking sector in borrowing the banking industry. Discouragement is also observed within the
banking industry's business on a large scale (Neville et al., 2018). Due to UAE monetary policies
and procedures, the banks' business is decreased as financial stability is hindered. The banking
industry's business is lowered, creating problems and issues within the UAE monetary policies
and procedures as they keep changing per the requirements and needs (Farraj, Yousafzai and
Sheikh, 2021). There are concerns related to how the business of banks is trying to expand at a

large scale, but there are problems in the financial aspects, which address the problems and
issues arising in the business at a large scale.
As denoted by Neville et al. (2018), problems and issues in the monetary policy and
procedures are lowering the business concerns related to the UAE monetary policy and creating
problems and issues on a large scale. Due to discouragement in the monetary policy, aspects are
denoted and considerate of the weakness the banking industry faces on a large scale. The bank's
business is being affected as low growth and development measures are being analysed at a large
scale in a manner affecting the whole industry.
Theme 2.3 No guarantee of economic recovery
According to Chen, Mrkaic and Nabar (2019), There is no guarantee of economic
recovery, and this is the major problem the banking industry faces, which is the major drawback
of UAE policies and procedures, which are changed and implemented at a large scale. During the
recession, not all the banking industries know how effectively there are concerns addressed to
effectively contribute to the perspectives of economic growth and development on a large scale
(Paul et al., 2018). There are concerns about how economic disbalance is created due to the
large-scale monetary policies and procedures.
As denoted by Tcherneva (2020), Due to this balance in the economic growth and
development, it becomes difficult for UAE monetary policy to regain the conscious efforts to
maintain the banking industry. The UAE monetary policy has the significant drawback that it
does not take responsibility for economic recovery and is neither concerned with the changes and
disbalance it creates on a large scale (Chicherins, 2018). Due to no guarantee of economic
recovery, significant problems and issues are addressed concerning the aspect of economic
balance through the banking industry. This is the major problem as there is economic disbalance.
This helps constitute the concerns related to the aspects of monetary policy being analysed and
known on a large scale. This is the major problem the UAE monetary policies and procedure is
addressing on a large scale. (Chen, Mrkaic and Nabar, 2019).
Theme 3 – Relationship between using monetary policy and procedures within borrowing
Emirates National Bank of Dubai
Theme 3.1 Monetary policy within borrowing Emirates National Bank of Dubai

According to Menassa and Dagher (2019), monetary policy is determined by how
effectively the monetary value is being placed and this is considered the primary concern on a
large scale. For accessing monetary policy, aspects are being considered appropriately within the
system as to how there are concerns related to monetary policy on a large scale. The money
supply is being analysed, which concerns how effectively the financial analysis is being done at a
large scale. There is an aspect of how effectively and appropriately the monetary terms are
considerate of utilising the major aspects of being considerate for the concerns of analysing the
relationship between the monetary policies and procedures appropriately.
As denoted by Banerjee (2018), the government has put a large scale of low-interest rates
on oil production and water desalination companies. Currently, the UAE has the largest aspect,
which concerns the formation of the monetary policy, which is framed on a large scale. 95%
interest rate is low compared to other significant airlines paying between 1-3%. This is the
central part that has been addressed to depict how monetary policies appropriately maintain the
balance between the policies and procedures.
Theme 3.2 Lower interest rates for large banking business
According to Bikker and Vervliet (2018), The banking industry is the major industry
concerned and is denoting the aspects of how effectively there are changes which can be
addressed and are required for knowing how the banking industry is being concerned at a large
scale. There are aspects of effectively being concerned. This is analysed to depict and display the
needs and demands placed in the market and changes in the inflation rates being considered on a
large scale. There are many analysts (Lopez, Rose and Spiegel, 2020). Those worried about the
inflation rates that may change are not being displayed within the context of how effectively the
significant concerns within the banking business are related at a large scale. There are concerns
about effectively being analysed within the banking industry, which has helped in understanding
the concepts analysed within the concerns at a large scale. There has been an analysis (Corbae
and D'Erasmo, 2019). of how effectively and properly the monetary policies and procedures are
being analysed and are concerned with the growth and development of the banking industry on a
large scale.
As denoted by Lucas, Schaumburg and Schwaab (2019), the banking business is the
primary business concern depicted and is concerned with the development of the business on a

large scale. This is the central issue, and the problem is the analysed lower interest rates. This
helps in knowing that if there is a high-interest rate, the banking industry will analyse the
concerns regarding business growth and development. There are aspects that concern business
growth with the changes accepted within monetary policies and procedures on a large scale.
There is also an increase in investments, which is helping to provide significant concern
regarding how effectively the loans within UAE are carried out. There is ample opportunity
which is helping the banking sector to analyse and depict the criteria being analysed within the
banking industry (al Serhan and Rahrouh, 2020).
Theme 3.3 Monetary policies and procedures and Emirates National Bank of Dubai
As per al Serhan and Rahrouh (2020), the monetary policies and procedures and Emirates
National Bank of Dubai are the major concerns which are related to effectively and in an
appropriate manner the banking industry is analysing and creating the aspects which are
managing and analysing the concerns regrading the monetary and financial aspects at large scale.
The policies and procedures are changing within the banking industry, which is determined by
growth and development on a large scale. This helps analyse and determine the concerns related
to managing the business perspectives determined and identified within the market. This is
helping to create value for how the concerns are keeping intact the monetary policies and
procedures that concern and analysing the aspects of how effectively the monetary measures and
policies are being addressed.
As stated by Al Ali (2021), the relationship between the monetary policies is being
analysed concerning how there are differences in the policies and procedures, which are in aspect
to how there are concerns regarding the banking rules and regulations at a large scale. Some
changes are being depicted and analysed, creating value for how the banking industry is
profitable (Ashraf and Shen, 2019). National Banking of Dubai has been analysed. There are
concerns about investment and loans the banks are providing at a large scale. This is denoted as
the critical primary concern related to how effectively the banking sector or industry is changing
the rules and regulations on a large scale.
As stated by Chotia and Pai (2019), monetary policies and procedures are keeping the
changes and modifications for making banking facilities available to the customers and
adequately fulfilling their needs and demands on a large scale. This has been the primary concern

which is helping to depict the concerns regarding the banking facilities which are to be provided
to the customers within the industry for making the proper balance of monetary policies and
financial services to be provided to customers within the banking industry (Banerjee, 2018). The
policies and procedures are framed to benefit and provide advantages to the customers on a large
scale. This helps to analyse the major characteristics being denoted and addressed to the banking
facilities on a large scale. There are concerns which are denoted for keeping in view the changes
and modifications, keeping the banking industry updated and seeking growth and development at
a large scale appropriately.
RESEARCH METHODOLOGY
Research type: Research strategy can be defined as a framework of market research
techniques that scholars select to collect reliable information. (L. Haven and Van Grootel, 2019).
In this study, the researcher wants to identify the impact of different UAE policies and
procedures on the bank's borrowing. There will be a requirement for theoretical information to
accomplish the aim, so the researcher must use a qualitative research strategy to analyse
information in detail in words. It can also enable them to make decisions and solve problems
relevant to the research problem (Shen et al., 2018). In contrast, quantitative is the type of
research in which scholars tend to collect data in numbers and logically. The main aim of
selecting this research type is to find patterns, test causal relationships, make predictions, and
generalise results to a broader population (Alpi and Evans, 2019). By conducting quantitative
research, scholars can find easier generalising sample results. The researcher can conclude and
make educated decisions on the course of action based on statistical and logical data.
In addition, it can be said that this research can provide detailed theoretical perspectives
on the effectiveness and limitations of different UAE policies. It is believed that qualitative
research gives valuable insight into the research topic and can make researchers know all about
it. It can help them out in making a decision as well as solve the research problem. There are
many more characteristics of qualitative research: it uses a systematic predefined set of processes
to answer a question, collects data evidence and helps produce findings that are applicable
beyond the immediate boundaries of study (Abutabenjeh and Jaradat, 2018). So, based on these
characteristics, it can be said that a qualitative study would be suitable for this research study,

and it can give in-depth information regarding the effectiveness of UAE policies and their
impacts on bank borrowings. It can make research studies effective and successful.
Research approach: Before discussing the main research approach that has seleted for
this study, it is important to understand the meaning of research approach. In this regard, it can
be said that it is a research plan that spans stages from assumptions regarding detailed data
collection and interpretation methods. For this study, the inductive research approach has
been selected to collect reliable information on the generation of a new theory. Within
inductive research, a scholar generates a brand-new theory as a primary tool or source of data
collection and interpretation (Elhassan et al., 2022). This process starts with gathering data,
looking for patterns, and developing a new theory. The researcher observes social phenomena in
the deductive research approach (Lee and Lin, 2019). The reason for developing an existing
theory is to collect answers to why. It helps the researcher know why changes have been made in
UAE policies and why UAE policies are impacting the banking industry. So, by knowing or
gathering the answer of why, the researcher can accomplish the main research aim and the reason
for selecting the deductive research approach (Walter and Ophir, 2019). With an inductive
research approach, a scholar can know how UAE's policies work and how they can impact the
banking sector.
Another main reason for selecting this approach is its suitability with qualitative research
strategy and interpretivism research philosophy. When researchers take an inductive research
approach, they need to start with observation and then move from those experiences to a broad
set of propositions about the experience. In addition, it can be said that the inductive research
approach allows flexibility and attends closely to content (Woiceshyn and Daellenbach, 2018).
Compared to deductive research, the inductive approach is more effective and is all about the
formation of generalisation based on what is observed. It can enable researchers to predict what
may happen in the future. By doing so, the researcher can solve challenges before occurring and
make the research study successful. Based on this, it can be said that by generating a brand-new
theory, the researcher can know all impacts that UAE policies and procedures can have on the
borrowings of Emirates National Bank of Dubai (Berends and Deken, 2021).
Research philosophy refers to people's assumptions and beliefs regarding data collection
and analysis. A research study deals with the source, nature as well as the development of
knowledge. It suggests ways for a researcher by which they should collect relevant data and

interpret them (Ryan, 2018). For this research study, the researcher has selected interpretivism
research philosophy because of its association and suitability with qualitative research.
Interpretive research philosophy is one in which the researcher's roles are not limited. This
philosophy believes that individuals within society play a vital role as they shape the behaviour
of the society in which they live (Ryan, 2018). By observing individuals, researchers can know
what society thinks and why they think like this. By getting answers based on observation, the
researcher can know how monetary policies affect economic conditions, how it affects business
growth, and how monetary policies can affect banks' borrowings. Interpretivism researcher
believes that access to reality is only through social construction like shared meaning,
consciousness and language (Alharahsheh and Pius, 2020).
It is also associated with a position of idealism and can be used to group diverse approaches. The
main aim of selecting this philosophy is to understand the research topic in a detailed manner and
focus on what is unique, deviant and specific. This philosophy is cooperative and interactive.
Using this philosophy, the researcher within this study can know what people and bankers think
about monetary policy, what kind of problems they face, and how they deal with them. So, by
collecting information related to these questions, the scholar can meet the set aim and objectives
to make this study successful. It can help them out in accomplishing goals.
Data collection: A process that the researcher for collecting and analysing data follows is
known as data collection. For collecting reliable information, the researcher requires appropriate
tools and instruments for completing the data collection process, known as data collection tools.
Primary refers first-hand data that can be collected via questionnaires, focus groups, interviews,
and surveys. Data selection relies on the nature and scope of the research topic (Johnson et al.,
2019). As in this research study, scholars want to know about UAE policies, like their impact on
banking and bank borrowings. For this broad topic scope, primary and secondary information
will be required. Google scholar, CINHAL and PubMed will be used as key source sites.
The researcher has gathered primary and secondary data for this research study. Primary
data has collected by conducting questionnaires as well as interviews. Some articles have also
been selected in which researchers have conducted study within 5 years. All those articles and
newspapers that consist information related to the topic is secondary data for this study. Articles
and their review have been done as a secondary data collection. Collecting both types of data is

to know all about UAE policies and their impact on the banking sector. The researcher can know
the latest changes and trends regarding the banking sector and policies by collecting preliminary
information. The researcher can know the past five years' information regarding UAE policies by
secondary data. It can give reliable and valid information to the researcher, who may find it
easier to accomplish the main research aim. Five years of secondary data have been collected
regarding the research topic (Kalu, Unachukwu and Ibiam, 2019). For a successful research
study, a mixed study has been conducted and by collecting information via Interviews and
Questionnaires, the banking sector can be beneficial.
Sampling: Sampling is the process used in the statistical analysis for which a selected
number of observations are taken from a large group of individuals. It is also defined as a small
set of data chosen by the researcher and using selecting methods to select from large populations
(Yudina, Zadorozhnyi and Yudin, 2019). For conducting research, sampling is the effective way.
However, in some cases, it is very time-consuming and costly to research on population. Doing
market research on the population is very large. There are two types of Sampling methods:
Probability sampling includes random sampling, allowing individuals to design reliable
statistical data about the whole group. It is the most time-consuming, complex and costly method
of sampling. A non-profitability sampling includes selecting random data based on accurate or
convenient data that an individual can easily collect. In this method, all members do not have a
chance to participate in the study (Shaheen and Pradhan, 2019).
There was a link between the research objective and the questions. The research objective
is to evaluate UAE monetary procedure and policy drawbacks. A questionnaire was conducted in
which it was asked about the banking performance of Dubai, and in the Interview, it was
provided with the policies and procedures information. The Questionnaire was based on the link
with the research. There was a selection of 50 members for conducting the Questionnaire
because of the last five-year frequency there was done selection. The sample can be justified as
the main reason for sampling is for conducting the research and taking the Interview by making
the Questionnaire. The research population is 50, to which the research was conducted. Yes,
sample findings can be generalised through the Questionnaire and the Interview. The Interview
was intended to conduct now. There were five members for the Interview because the sampling
was done according to the department's handling.

Sampling methods under Profitable were: Simple random- Every individual was chosen
with an equal chance. Systematic- Selection of individuals at an interval from sampling data.
They stratified- Similar characteristic individuals divided into subgroups. Clustered- The
subgroups were used as a sample unit. Sampling methods under Non-Profitable were:
Convenience- The participants were selected as per their willingness and availability to
participate. Quota- Interviewers got a quota of a subject to recruiting. Judgement- Judges rely on
their judgements while selecting. Snowball- Participants recruit other participants for a study.
The researcher will take 50 bank managers of Emirates National Bank of Dubai to conduct the
Questionnaire and 5 Senior bank managers of Emirates national Bank in Dubai for the Interview.
Details of questionnaire and interview -
The research objective which has been addressed in each are based on the suervey taken
by the respondents by asking them questions and conducting interview with them. Both
questionnaire and interview have been opted as it was importtnt for the research which has been
undertaken.
Limitations of the questionnaire are – time consuming to collect the data, not suitable for less
descriptive respondents, time consuming to analyse the data also.
Limitations of the interview is – incomplete information, jusgment is poor, incomplete process.
Data analysis: A process of using statistical as well as logical tools to work with collected data
for getting useful information is known as data analysis. This process makes researchers make
informed decisions, which can be used in accomplishing goals. Qualitative and quantitative are
two types of data analysis, like research strategy. The selection of data analysis also relies on the
type of research strategy. If the researcher has conducted qualitative research, then the researcher
must use qualitative data analysis tools, and for analysing the numerical form of data, the
researcher must use quantitative data analysis tools.
In this research, the researcher has used the thematic analysation in which the qualitative
data has been analysed effectively to generate effective outcomes. As the researcher has gathered
the qualitative data, thematic analysation is preferable in this context. The primary reason behind
using thematic analysation is the practical analysis of the qualitative data. Thus, using thematic

analysis, the gathered outcomes can easily be analysed and create understanding outcomes.
Therefore, thematic analysis has been used in the research to reveal the outcomes.
DATA ANALYSIS
Introduction
This section will analyse the gathered data to reveal the outcomes. The primary purpose of
data analysation is associated with pulling out the essential and valuable information that reveals
the outcomes. The mixed methodology and Questionnaire and Interview are being conducted in
this section. The qualitative data and the thematic perception test technique have been acquired.
In order to conduct the Questionnaire, 50 bank managers of Emirates National Bank of Dubai
were selected and for conducting Questionnaire and 5 Senior bank managers of Emirates
national Bank in Dubai were approached for Interviews.
Questionnaire
Theme 1
How long have you been working in the
bank?
Frequency
Last 1 year 8
Last 2 – 3 years 12
Last 3 to 5 years 14
More than 5 years 16
Total 50

Interpretation – From the above graph, it is interpreted that 8 out of 50 individuals have been
working in the bank for the last year. 12 out of 14 individuals have worked in the bank for the
last 2 – 3 years. The other 14 individuals out of 50 have been working in the bank for the last 3
to 5 years. The individuals working more than five years are 16 out of 50. This is the scale of
how the individuals have been working within the bank, which helps in analysing the value of
the bank and the position of the individuals within the bank. Individuals have been working
within the bank to ensure their work, roles and responsibilities within the company.
Theme 2
Does your bank face issue pertaining to
compliance of policies and procedures?
Frequency
Yes 27
No 11
Don't know 12
Total 50

Interpretation – From the above graph, it has been interpreted that 27 out of 50 individuals have
addressed the problem of banks facing the issue pertaining to compliance of policies and
procedures. The rest of the individuals who are 11 out of 50 have said no, to the bank facing the
issue of compliance with policies and procedures on a large scale. 12 out of 50 individuals do not
know the situation of banks facing the issue of compliance with policies and procedures on a
large scale. This is the major scenario that the individuals are depicting on a large scale. This is
how the bank has been responding to the policies and procedures addressed and the issue they
are facing, which is depicted and known on a large scale.
Theme 3
Do you think there is a need to comply with
monetary policies within banking?
Frequency
Yes 23
No 14
Don't know 13
Total 50

Interpretation – From the above graph, it is interpreted that 23 out of 50 individuals have
addressed the need to comply with monetary policies within banking. While the other 14
individuals out of 50 have said that there is no need to comply with the monetary policies within
banking. The other 13 out of 50 individuals say that they do not know whether to comply or not
with monetary policies within banking. The need to comply with monetary policies within
banking must be effectively and efficiently framed within the system on a large scale (Chen,
Mrkaic and Nabar, 2019). This helps indicate that monetary policies are essential in how
effectively the banking procedures are carried forward. The bank's major concern is how the
system's monetary policies and procedures are followed effectively and appropriately.
Theme 4
Do you think government policy is mainly
contributed to banking performance?
Frequency
Yes 38
No 7
Don't know 5
Total 50

Interpretation – From the above graph, it is interpreted that 38 out of 50 individuals think that
government policy mainly contributes to banking performance. While the other seven individuals
among 50 think that there is no contribution of the government policy to the banking
performance. It has been analysed that the graph also depicts that 5 out of 50 individuals do not
know whether the government policy is mainly contributing to the banking performance.
Government policies are essential to be considered as they help address and know the primary
concern related to banking performance on a large scale. The banks must enable and evaluate the
government policies, which helps better understand the banking performance.
Theme 5
Which of the following operations improved
by implementing monetary policy within a
bank?
Frequency
Liquidity 9
Borrowing 14
Lending 12
All of these 15
Total 50

Interpretation – From the above graph, it is interpreted that 9 out of 50 individuals think that
liquidity improves monetary policy within a bank. It is also interpreted that 14 out of 50
individuals think that borrowing is an operation which has improved by implementing the
monetary policy within a bank. The other 12 out of 50 think that lending is the operation that
helps improve by implementing the monetary policy within a bank. 15 out of 50 individuals
think that all the operations are implemented for monetary policy within the bank. This helps to
create value and address that the certain type of operations is helping in addressing and knowing
the banking operations at a large scale and in an appropriate manner. It is essential that the
banking operations are being analysed and are concerned within the system and bank at a large
scale to create and implement monetary policy within a bank. (Chen, Mrkaic and Nabar, 2019).
Theme 6
Do you think there are some drawbacks to
using UAE monetary policy within banking?
Frequency
Yes 37
No 8
Don't know 5
Total 50

Interpretation – From the above graph, it is interpreted that 37 out of 50 individuals think that
there are some drawbacks to using UAE monetary policy within banking. Of the other
individuals, 8 out of 50 interpret that there are no drawbacks to using UAE monetary policy
within banking. The rest of the individuals who are five among 50 do not know whether there are
drawbacks to using UAE monetary policy within banking. The monetary policy of UAE within
banking must be essential to be addressed, and this is helping to create measures which are
analysed within the system of how effectively the banks are concerned and are addressing the
policies to be implemented within the system. The drawbacks of using the UAE monetary policy
within banking are essential to be analysed within the system.
Theme 7
Are there any challenges faced by you while
complying with any policies?
Frequency
Yes 22
No 19
Don't know 9
Total 50

Interpretation – From the above graph, it is interpreted that 22 out of 50 individuals think that
there are challenges faced while complying with any policies. 19 out of 50 individuals think that
the individuals did not face any challenges while complying with policies. 9 out of 50 individuals
think they do not know whether they faced challenges while complying with large-scale policies
within the system. The challenges faced with the policies are analysed, helping to create value as
to how these challenges should be solved. It is essential to follow the policies and procedures
within the banking structure as this helps in regularising the work and creating perspectives of
how effectively the roles and responsibilities are considered within the system on a large scale.
Theme 8
Do you agree that monetary policies adopted
by the company assist in improving the
overall financial performance?
Frequency
Strongly agree 32
Agree 9
Neutral 9
Total 50

Interpretation – From the above graph, it is interpreted that 32 out of 50 individuals think that
the monetary policies adopted by the company assist in improving the overall financial
performance, to which they strongly agree. 9 out of 50 individuals agree that the monetary
policies adopted by the company assist in improving the overall financial performance on a large
scale. The other 9 out of 50 individuals are neutral towards the monetary policies adopted by the
company to improve the overall financial performance. It is imperative that the monetary policies
adopted by the company assist in financial performance, which is very significant for the
company to be analysed on a large scale. These aspects are analysed and create value for the
policies applicable in the bank related to the monetary measures, which helps improve the bank's
performance.
Theme 9
What is the relationship between sound
monetary policies and procedures within
borrowing from Emirates National Bank of
Dubai?
Frequency
Positive 36
Negative 9
Both 5

Total 50
Interpretation – From the above graph, it is interpreted that 36 out of 50 individuals think that
relationship between sound monetary policies and procedures within borrowing Emirates
National Bank of Dubai. The rest of the individuals who are 9 out of 50 depict a negative
relationship between sound monetary policies and procedures within borrowing Emirates
National Bank of Dubai. Some individuals think there is a negative and positive relationship
between monetary policies and procedures in borrowing from Emirates National Bank of Dubai.
The individuals thinking this are 5 out of 50. It is important to consider and understand the
relationship between monetary policies and procedures within borrowing Emirates National
Bank of Dubai. This is helping to achieve the concerns and aspects of how there is proper
measure and key concerns to be addressed within the banking system on a large scale.
Interview
Q1: Do you think the banking sector's performance is good in Dubai?
 Interviewee 1- The first candidate (senior bank manager) has provided the partial answer
in this context and said that if it is about the overall performance of the banking, it can be
said that it is good. If we focus on the significant attributes linked with liquidity issues, it
can be said that the bank does not perform well in some areas.

 Interviewee 2- The participant responded that, according to them, the banking
performance could not be excellent and effective at all times as significant economic
fluctuations have been taking place that creates issues for the banking sector. Therefore,
it cannot be said that the banking sector's performance is always effective.
 Interviewee 3- The third interviewee represented their views by saying that the
performance of the banking sector in Dubai is highly effective as banks often face losses
at that time. Also, banks focus on the economy's in-flow and out-flow of cash. Therefore,
it can be said that the performance of banking in Dubai is highly effective.
 Interviewee 4- In this context, the fourth participant has revealed that the bank has not
performed well throughout the recent economic headwinds as significant pressure has
been created over banks, and the banking sector has faced issues while dealing with the
situation. Often certain financial crisis has been faced within banking sectors.
 Interviewee 5- The fifth senior bank manager over this has said that the UAE'S banking
system is allowed to be well capitalised with the effective capital adequacy ratio and
minimum regulatory requirements. Thus, the banking sector is effective enough in
managing liquidity issues. However, when the economy faces a depression period, then
the performance of the banking sector often gets affected.
Q2: Does your organisation is complying monetary policy?
 Interviewee 1- The first respondent stated that yes, their organisation complies with the
monetary policy, and this is essential to link the operations of the bank with the economy
 Interviewee 2- In this context, the second respondent said that central banks conduct the
monetary policy by adjusting the money supply with the help of open market operations.
Thus, the organisation complies with the monetary policy as it helps manage the other
banks.
 Interviewee 3- Over this, the third candidate has said that our organisation is the central
bank. Therefore, it is responsible for keeping the economy on a keen level, which can
only be done by enacting and using monetary policy. Thus, our organisation complies
with the monetary policy as, without it, most economical operations and situations cannot
be handled.

 Interviewee 4- The fourth interviewee shared an exciting response over this and said
that Monetary policy is the major tool that regulates the bank's operations to manage
economic fluctuations. Mainly, at the time of inflation and unemployment situation and
to promote the long-term interest rate, organisations use the monetary policy and
therefore comply with the monetary policy.
 Interviewee 5- The fifth candidate said that this monetary policy works equally for the
banking sector. It creates advantages and disadvantages as well often; our organisation
complies with it. Not using the policy hinder the growth of the banking sector and
economy.
Q3: What are the benefits of using monetary policy within the Emirates National Bank of
Dubai?
 Interviewee 1- The first respondent shared their views by saying that when the interest
rates have been made cheaper using the monetary tool, the public makes large borrowings
that again increase the bank's profitability. Thus, the major benefit of monetary policy
within Emirates national Bank of Dubai is that the profitability of commercial banks
increases, which further creates the profit and advantage for Emirates national Bank of
Dubai.
 Interviewee 2- Over thus, the second respondent has said that the significant benefit of
using monetary policy by the Emirates national bank of Dubai is that it guides the bank to
lead the commercial bank in keeping some percentage of their total deposits in the
reserves. When the money supply needs to be increased, the reserve ratio is decreased.
 Interviewee 3- The third candidate said that the monetary policy discount rate tool helps
the central bank keep the minimum fund level within the bank. The discount rate tool
changes when the liquidity zone runs out. Within this monetary policy tool, the central
bank can easily lead cash flow in the market by increasing and decreasing the discount
rate.
 Interviewee 4- The fourth Interview shared opinion in this context and said that the open
market operations tool of monetary policy is creating one of the central bank's major
advantages. With the help of this operation, the selling and purchasing of treasury bills
with government security has been performed, and the money supply has been regulated

in the market. Selling and purchasing securities have been done in accordance with
increasing and decreasing money supply in the market.
 Interviewee 5- The fifth respondent shared their opinion and said that managing the
inflation rate and interest rate in the central economy bank gets practical guidance from
the monetary policy, and the tool of monetary policy has been appropriately used. The
participants have often said that the Central Bank's accountability must regulate the
supply of money in the market. Therefore, it is important to check on this, which has
been effectively done with the help of monetary policy.
Q4: What are the weaknesses of using monetary policy within the Emirates National Bank
of Dubai?
 Interviewee 1- The first Interview said that monetary policy application also creates
certain disadvantages for the bank. This leads to reducing the customers' borrowing rate
during inflation. When cash flow needs to be managed in the economy, and the pause
needs to be created over the banking borrowing, the borrowings have been made higher,
leading to the situation when the public has made fewer borrowings.
 Interviewee 2- The second candidate has revealed that it seems a lower interest rate
attracts large customers. However, it creates a loss for the Emirates National Bank of
Dubai. The interviewee has said that to increase the money supply in the market, the
central bank decreases interest rates, and many people make borrowings. However, the
interest rate against borrowings has been reduced to a higher level that affects the
profitability of the whole banking sector.
 Interviewee 3- The third candidate said that the banking industry's business becomes
lower due to UAE monetary policy, which also decreases financial stability. Thus,
commercial banks' financial stability gets affected, creating a major challenge for the
Central Bank.
 Interviewee 4- The fourth respondent has said that even after adopting the monetary
policy, the major issue is that it does not offer a guarantee of economic growth. UAE
monetary policy focuses on maintaining and enhancing the stability of the economy.
Therefore, it has been adopted by the Central Bank. However, the lack of guarantee is a
weakness of UAE Monetary policy.

 Interviewee 5- The fifth respondent in this context has said that one of the major
weaknesses of using UAE Monetary policy is that it creates a disbalance between
economic growth and the banking sector. The UAE monetary policy has been taken for
economic recovery. However, in some areas, it does not assure economic recovery.
Q5: Do you face any challenges while adhering to monetary policy?
 Interviewee 1- The first candidate over this has said that the major challenge faced
while adhering to monetary policy is forecasting inflationary pressure. It is hard to
estimate the inflationary pressure and forecast it.
 Interviewee 2- The second respondent in this context said that it becomes hard to assess
the economical situation as the monetary policy tool has been applied. The estimations
are mainly performed using the economy model, which can often be proved wrong.
 Interviewee 3- The third participant shared their opinion and said that the fragility of the
financial market creates a significant challenge while adhering to monetary policy. The
adjustment cannot be made immediately; therefore, the issues have been developed.
 Interviewee 4- The fourth interviewee said that the monetary policy transmission
mechanism is one of the biggest challenges. Often, monetary policy tools do not provide
the desired result in stabilising economic growth.
 Interviewee 5- In this context, the fifth respondent said that the risk is aligned with
purchasing government securities in the secondary market and can impact the use of
monetary policy within the Central Bank.
RESEARCH FINDINGS
The significant findings have been that UAE's monetary policies impact the working procedure
and govern the banking industry in UAE. In order to assure practical focus on the money supply
in the market, UAE'S monetary policy plays a vital role and supports economic growth.
However, the UAE'S monetary policy has positive and negative impacts on the banking industry
(Al Naqbi et al., 2019). Research has often shown that the banking sector faces major issues
complying with the monetary policy. Often it has been revealed that government policy mainly

impacts banking performance. The UAE Monetary policy is impacting the banking performance
to the highest level (Jumaa and Tawdrous, 2019.). Thus, the benefits of monetary policy create
practical benefits within the banking industry, and the drawbacks create a significant loss for the
banking sector.
The existing literature in this context has revealed that implementing monetary policy
within banks improves the issues related to liquidity, borrowing and lending. All three major
attributes linked with the money supply in the market are mainly operated with the help of
monetary policy. Thus, the same has been witnessed in the findings that there are major
advantages of using UAE monetary policy within the banking industry, and those are that the
major tools of UAE monetary policy which required reserve ratio, discount rate tool, open
market operations and inflation and inflation rate helps in managing the flow of cash in the
economy that further helps in dealing with the situation of inflation in the economy. The
monetary policy that the banks are adopting enhances financial stability as well. The findings
have often revealed that the relationship between the sound monetary policies and the procedure
within the borrowings Emirates National bank of Dubai is positive.
The practical tools of monetary policy lead to managing the drastic economic situation in
an economy that further helps create a situation in which the central bank guides commercial
banks to reduce their interest rates so the cash flow can be increased in the economy.
Furthermore, the borrowing rate of the banks has been increased, creating a huge benefit for the
banks. The outcomes have shown that UAE monetary policy is mainly adopted for managing the
economic fluctuation within the guiding banking industry (Said, 2018). However, UAE monetary
policy does not guarantee economic stability properly, which is a significant drawback in this
context. The Emirates national bank of Dubai often faces some issues while adhering to
monetary policy: Forecasting the inflationary pressure, hard to assess the economic situation, the
fragility of the financial market and monetary policy transmission mechanism (Shahnoori and
Jenkins, 2019).
Thus, it is not easy to implement the monetary policy as this leads to many challenges and
often, there is no guarantee of economic stability. Therefore, this has been considered the major
issue in implementing UAE Monetary policy within the banking industry. Thus, the research
findings are clearly stating that UAE monetary policy has been proven effective and not effective
as well. It has been proven highly effective in some areas in increasing the borrowings rate of the

Emirates national bank of Dubai. However, when it comes to the implementation of monetary
policy, then it creates certain challenges within the central. Often, it becomes hard to assess the
economic situation, which significantly impacts the implementation of monetary policy. The
UAE'S banking sector must deal with the lack of economic stability to create a positive outlook
(Chafik, 2019). The UAE's monetary policy also supports the banking industry and guides them
to take corrective measures. However, the procedure is complicated, which creates numerous
challenges as well. Thus, it can be said that UAE monetary governs the banking industry to deal
with the economic hurdles and helps manage the cash-flow in the economy.
RECOMMENDATIONS
The major recommendations in the context of the implication of UAE monetary policies are
entitled to focus on the main elements of the economy. Then, the monetary policy tools must be
implemented (Alqemzi et al., 2022). Ineffective assessment of the economic situation often
creates a situation in which the wrong decision has been taken in implementing monetary policy.
Therefore, the economic situation must be assessed to make a proper observation. Based on that,
the tools must be applied as it reduces the lack of guarantee that has been offered in some cases
by the implication of UAE'S monetary policy.
The primary objectives of the monetary policy must be clear within the banking industry as
clear objectives guide taking the right decision. UAE's monetary policy often contains different
tools that must be used under the current situation. Therefore, objectives need to be clear in
mind. The major six objectives that need to be focused on are the high employment rate,
economic growth, price stability, interest-rate stability, financial market stability and foreign
exchange stability. Thus, these must be considered the major objectives in implementing the
UAE monetary policy within the banking sector.
The decision can be taken by focusing on the significant attribute of the objective. For
instance, in the context of price stability, the bank focuses on easing the prices in the market,
which helps ensure financial stability (Hohberger, Priftis and Vogel, 2020). Thus, in such a
situation, the bank gets guidance in taking corrective measures, and the interest rate is lowered to
maintain price stability. Often when a bank reduces its interest rate, it results in a large number
of borrowings made by the public. Thus, effective investment can be made in the economy,
creating employment rates and economic growth. Thus, in this manner, monetary objectives are

linked with each other and assessing the objectives helps in the effective implementation of
monetary policy within the banking sector.
CONCLUSION
Thus, it has been concluded from the above dissertation that it provided all the details and
information regarding the topic undertaken. Based on the research aim to investigate the impact
of using different UAE policies and procedures on bank borrowing within the banking industry:
A study on Emirates National Bank of Dubai was done. Literature review was framed which
helped in framing proper themes and subthemes to describe and elaborate on the main concerns
and helped to describe the topic appropriately. Further, it has been analysed that proper research
methodology was framed, which helped effectively describe the research methods and types.
Moreover, the data analysis was also done, which helped address the significant concerns and
collection of data and information regarding the topic on a large scale.
This has helped create value and address the facts adequately, framing findings and
interpretation. The tables and graphs were also discussed, based on the Questionnaire, and an
Interview of the bank managers was conducted. This provided exact details and information on
how the Interview was taken appropriately. The dissertation has cleared the major objectives,
including the impact of UAE'S monetary policy on the banking industry. It has been reviewed
that UAE monetary helps govern the banking industry in terms of deciding on implementing the
tools of monetary policy within the banking industry. Thus, it can be said that UAE'S monetary
policy plays a vital role in guiding the banking industry.
Furthermore, the research has concluded that UAE's monetary policy contributes effectively
to the banking industry as the money supply ratio can be managed in the economy with the
implementation of monetary policy. Different monetary policy tools help manage the money
supply in the market. Often, the bank benefits from the implication of monetary policy tools. In
order to increase the money supply in the market, the bank has lowered the interest rates, which
leads to higher borrowings by the public and creates benefits within the banking industry as
higher borrowings lead to higher profit for the bank. On the other hand, the research has often
reflected that UAE's monetary policy also creates major drawbacks within the banking industry.
However, the bank reduces its interest rate by increasing the borrowing rate, which often leads to

higher borrowing. The reduced interest rate impacts the banks' set profitability (Miranda-
Agrippino et al., 2020). Also, lack of operations in assessing economic conditions leads to
misguiding the banking industry and wrong decision has been taken in implementing the
monetary policy. Thus, the UAE'S monetary policy has been providing benefits to the banking
industry and creating challenges.
Thus, it has also been concluded that the research questions have been met with the
perspective of research being made appropriately. Recommendations and findings have also been
met and analysed within the research.

REFERENCES
Books and Journals
1. Abutabenjeh, S. and Jaradat, R., 2018. Clarification of research design, research methods,
and research methodology: A guide for public administration researchers and
practitioners. Teaching Public Administration. 36(3). pp.237-258.Ryan, G.,
2018Alharahsheh, H.H. and Pius, A., 2020.
2. Ahmed and et.al., 2021. BANKING BEHAVIOUR TOWARDS SMALL BUSINESS
FINANCING IN THE UAE: SUPPLY-SIDE ASSESSMENT BASED ON
IMPORTANCE PERFORMANCE MAP ANALYSIS. Academy of Accounting and
Financial Studies Journal, 25(1), pp.1-11.
3. Al Ali, A., 2021. The Impact of Information Sharing and Quality Assurance on Customer
Service at UAE Banking Sector. International Journal of Technology, Innovation and
Management (IJTIM). 1(1). pp.01-17.
4. Al Ali, A., 2021. The Impact of Information Sharing and Quality Assurance on Customer
Service at UAE Banking Sector. International Journal of Technology, Innovation and
Management (IJTIM), 1(1), pp.01-17.
5. Al Ali, A., 2022. The Impact of Information Sharing and Quality Assurance on Customer
Service at UAE Banking Sector. International Journal of Technology, Innovation and
Management (IJTIM), 1(1), pp.01-17.
6. Al Naqbi and et.al., 2019. Market design for successful implementation of UAE 2050
energy strategy. Renewable and Sustainable Energy Reviews, 116, p.109429.
7. al Serhan, F. and Rahrouh, M., 2020. Communicative Public Relations Activities in
Emirati National Banks. Journal of Talent Development and Excellence. 12(3s). pp.1471-
1488.
8. al Serhan, F. and Rahrouh, M., 2020. Communicative Public Relations Activities in
Emirati National Banks. Journal of Talent Development and Excellence. 12(3s). pp.1471-
1488.
9. Alharahsheh, H.H. and Pius, A., 2020. A review of key paradigms: Positivism VS
interpretivism. Global Academic Journal of Humanities and Social Sciences, 2(3), pp.39-
43.

10. Alhosani and et.al., 2019, November. A policy driven, human oriented information
security model: a case study in UAE banking sector. In 2019 IEEE Conference on
Application, Information and Network Security (AINS) (pp. 12-17). IEEE.
11. Alhosani and et.al., 2019, November. A policy driven, human oriented information
security model: A case study in UAE banking sector. In 2019 IEEE Conference on
Application, Information and Network Security (AINS) (pp. 12-17). IEEE.
12. Alpi, K.M. and Evans, J.J., 2019. Distinguishing case study as a research method from
case reports as a publication type. Journal of the Medical Library Association:
JMLA 107(1). p.1.
13. Alqemzi et.al. 2022. The impact of liquidity risk management on Financial Performance
through Profitability in the UAE Islamic banks: A review. Journal of Positive School
Psychology. 6(3). pp.4636-4645.
14. Altavilla and et.al., 2018. Monetary policy and bank profitability in a low interest rate
environment. Economic Policy. 33(96). pp.531-586.
15. Andrade and et.al., 2018. The optimal inflation target and the natural rate of
interest (No. w24328). National Bureau of Economic Research.
16. Ashok, S. and Baskaran, K., 2022. The prominence of corporate governance in banking
sector with reference to UAE In Pervasive Computing and Social Networking (pp. 417-
430). Springer, Singapore.
17. Ashraf, B.N. and Shen, Y., 2019. Economic policy uncertainty and banks' loan
pricing. Journal of Financial Stability. 44. p.100695.
18. Banerjee, A., 2018. Can ratios predict the financial performance in banks: A case of
national banks in United Arab Emirates (UAE). International Journal of Accounting and
Financial Reporting. 8(4). pp.2162-3082.
19. Banerjee, A., 2018. Can ratios predict the financial performance in banks: A case of
national banks in United Arab Emirates (UAE). International Journal of Accounting and
Financial Reporting. 8(4). pp.2162-3082.
20. Bechri, M. and Mohamed, I.B., 2021. Global Financial Crisis and Credit Conditions in
the UAE.
21. Berends, H. and Deken, F., 2021. Composing qualitative process research. Strategic
Organization, 19(1), pp.134-146.

22. Bhattacharyay, B.N., 2021. Managing Climate-Related Financial Risk: Prospects and
Challenges. New Frontiers in Conflict Management and Peace Economics: With a Focus
on Human Security.
23. Bikker, J.A. and Vervliet, T.M., 2018. Bank profitability and risk‐taking under low
interest rates. International Journal of Finance & Economics. 23(1). pp.3-18.
24. Chafik, O., 2019. Monetary policy in oil exporting countries with fixed exchange rate and
open capital account: expectations matter.
25. Chen, M.W., Mrkaic, M.M. and Nabar, M.M.S., 2019. The global economic recovery 10
years after the 2008 financial crisis. International Monetary Fund.
26. Chen, M.W., Mrkaic, M.M. and Nabar, M.M.S., 2019. The global economic recovery 10
years after the 2008 financial crisis. International Monetary Fund.
27. Chicherins, A., 2018. Some aspects of application of a guarantee. Baltic Journal of Legal
and Social Sciences. (2). pp.47-53.
28. Chotia, V. and Pai, R.J., 2019. Factors determining profitability of banks in
UAE International Journal of Financial Services Management. 9(4). pp.386-407.
29. Corbae, D. and D'Erasmo, P., 2019. Capital requirements in a quantitative model of
banking industry dynamics (No. w25424). National Bureau of Economic Research.
30. Darayseh, M. and Alsharari, N.M., 2022. Determinants of merger and acquisition in the
banking sector: an empirical study. Meditari Accountancy Research, (ahead-of-print).
31. Davis, J.M., II. 2020. Monetary Policy and Financial Reform. In Macroeconomic
Adjustment. International Monetary Fund.
32. El Hamiani Khatat and et.al., 2020. Monetary Policy Under an Exchange Rate Anchor.
33. Elhassan, A. and et.al., 2022. ILA4: Overcoming missing values in machine learning
datasets–An inductive learning approach. Journal of King Saud University-Computer and
Information Sciences, 34(7), pp.4284-4295.
34. Farraj, W., Yousafzai, S.Y. and Sheikh, S., 2021. Reciprocal Impact of Family and
Business for Internally Displaced Female Entrepreneurs. Available at SSRN 3889249.
35. Fasano, U., 2020. With open economy and sound policies, UAE has turned oil "curse"
into a blessing. IMF Survey. 31(019).
36. Gajjar, D., 2013. Ethical consideration in research. Education. 2(7). pp.8-15.

37. Hassan and et.al., 2021. Towards the Implementation of Monetary Management in
Islamic Economic System Based on Recent Developments. International Journal of
Islamic Economics and Finance (IJIEF). 4(2). pp.177-206.
38. Hohberger, S., Priftis, R. and Vogel, L., 2020. The distributional effects of conventional
monetary policy and quantitative easing: Evidence from an estimated DSGE
model. Journal of Banking & Finance. 113. p.105483.
39. Ibrahim, M.M., 2020. Liquidity Analysis of U.A.E. Banks. International Journal of
Economics and Financial Research, 6(5), pp.82-86.
40. Jarociński, M. and Karadi, P., 2020. Deconstructing monetary policy surprises—the role
of information shocks. American Economic Journal: Macroeconomics. 12(2). pp.1-43.
41. Johnson, M. and et.al., 2019. PrimarRyan, G., 2018Alharahsheh, HH and Pius, A., 2020y
care risk stratification in COPD using routinely collected data: a secondary data
analysis. NPJ primary care respiratory medicine. 29(1). pp.1-6.
42. Jumaa, MAAMS and Tawdrous, M.I.M., 2019. Impact of the Monetary Policy on the
UAE Economic Growth (Post Financial Crises). China-USA Business Review, p.16.
43. Jumaa, MAAMS and Tawdrous, M.I.M., 2019. Impact of the Monetary Policy on the
UAE Economic Growth (Post Financial Crises). China-USA Business Review. 18(1).
pp.16-32.
44. Kalu, A.O.U., Unachukwu, L.C. and Ibiam, O., 2019. Accessing secondary data: A
literature review.Ryan, G., 2018Alharahsheh, H.H. and Pius, A., 2020
45. L. Haven, T. and Van Grootel, D.L., 2019. Preregistering qualitative
research. Accountability in research, 26(3), pp.229-244.
46. Lee, A., Mitchell, B. and Lederer, A., 2019. Disinvestment, discouragement and inequity
in small business lending.
47. Lee, P. and Lin, H., 2019. The effect of the inductive and deductive data-driven learning
(DDL) on vocabulary acquisition and retention. System, 81, pp.14-25.
48. Lopez, J.A., Rose, A.K. and Spiegel, M.M., 2020. Why have negative nominal interest
rates had such a small effect on bank performance? Cross country evidence. European
Economic Review. 124. p.103402.
49. Lucas, A., Schaumburg, J. and Schwaab, B., 2019. Bank business models at zero interest
rates. Journal of Business & Economic Statistics. 37(3). pp.542-555.

50. Malova, T. and Pivovarova, M., 2018, April. The Dilemmas of Macroeconomic
Management: Impact on Global Financial Stability. In International Conference Project
"The future of the Global Financial System: Downfall of Harmony" (pp. 683-691).
Springer, Cham.
51. Masiha, R.Y., 2022. Effects of Cryptocurrencies on Global Economics: A Review
Study. Qubahan Academic Journal. 2(2). pp.9-15.
52. Menassa, E. and Dagher, N., 2019. Determinants of corporate social responsibility
disclosures of UAE national banks: a multi-perspective approach. Social Responsibility
Journal.
53. Menassa, E. and Dagher, N., 2019. Determinants of corporate social responsibility
disclosures of UAE national banks: a multi-perspective approach. Social Responsibility
Journal.
54. Miranda-Agrippino et.al. 2020. Global footprints of monetary policies. CFM, Centre for
Macroeconomics.
55. Mrad, F. and Mateev, M., 2020. Banking System in the MENA Region: A Comparative
Analysis Between Conventional and Islamic Banking in the UAE In Sustainable
Development and Social Responsibility—Volume 1 (pp. 61-85). Springer, Cham.
56. Muhammad, A.M., Basha, M.B. and AlHafidh, G., 2019. UAE Islamic banking
promotional strategies: an empirical review. Journal of Islamic Marketing.
57. Naimy, V. and Kattan, R., 2020. The impact of the recent oil price decline on the GCC
banking system. Middle East Development Journal, 12(2), pp.326-339.
58. Nakibullah, A., 2019. Monetary policy and performance of the oil-exporting Gulf
Cooperation Councial countries. International Journal of Business and Economics. 10(2).
pp.139-157.
59. Neville, F. and et.al., 2018. 'Why Even Bother Trying?' Examining Discouragement
Among Racial‐Minority Entrepreneurs. Journal of Management Studies. 55(3). pp.424-
456.
60. Neville, F. and et.al., 2018. 'Why Even Bother Trying?' Examining Discouragement
Among Racial‐Minority Entrepreneurs. Journal of Management Studies. 55(3). pp.424-
456.

61. Osmanovica and et.al., 2020. Impacts of Islamic banking system on economic growth of
UAE Journal of Talent Development and Excellence, 12(3s), pp.1555-1566.
62. Paul, M. and et.al., 2018. A path to ending poverty by way of ending unemployment: A
federal job guarantee. RSF: The Russell Sage Foundation Journal of the Social
Sciences. 4(3). pp.44-63.
63. Pfäuti, O., 2021. Inflation--who cares? Monetary Policy in Times of Low
Attention. arXiv preprint arXiv:2105.05297.
64. Presbitero, A. and Wiriadinata, U., 2020. The risks of high public debt despite a low
interest rate environment. VoxEu. org, August. 5.
65. Rocheteau, G., Wright, R. and Xiao, S.X., 2018. Open market operations. Journal of
Monetary Economics. 98. pp.114-128.
66. Rubio, M. and Yao, F., 2020. Bank capital, financial stability and Basel regulation in a
low interest-rate environment. International Review of Economics & Finance. 67.
pp.378-392.
67. Ryan, G., 2018. Introduction to positivism, interpretivism and critical theory. Nurse
researcher, 25(4), pp.41-49.
68. Ryan, G., 2018. Introduction tRyan,Ryan, G., 2018Alharahsheh, HH and PRyan, G.,
2018Alharahsheh, HH and Pius, A., 2020ius, A., 2020 G., 2018Alharahsheh, HH and
Pius, A., 2020o positivism, interpretivism and critical theory. Nurse researcher, 25(4),
pp.41-49.
69. Said, R., 2018. A Monetary Union for the GCC Journal of Economics and Development
Studies. 6(4). pp.67-76.
70. Shaheen, M. and Pradhan, S., 2019. Sampling in qualitative research. In Qualitative
techniques for workplace data analysis (pp. 25-51). IGI. Global.
71. Shahnoori, P. and Jenkins, G.P., 2019. The value of online banking to small and medium-
sized enterprises: Evidence from firms operating in the uae free trade zones. Applied
economics, 51(37), pp.4046-4055.
72. Shen, R.Z. and et.al., 2018. "We need them as much as they need us": A systematic
review of the qualitative evidence for possible mechanisms of effectiveness of animal-
assisted intervention (AAI). Complementary therapies in medicine, 41, pp.203-207.
73. Tcherneva, P.R., 2020. The case for a job guarantee. John Wiley & Sons.

74. Walter, D. and Ophir, Y., 2019. News frame analysis: An inductive mixed-method
computational approach. Communication Methods and Measures, 13(4), pp.248-266.
75. Woiceshyn, J. and Daellenbach, U., 2018. Evaluating inductive vs deductive research in
management studies: Implications for authors, editors, and reviewers. Qualitative
Research in Organisations and Management: An International Journal.
76. Yudina, M.N., Zadorozhnyi, V.N. and Yudin, E.B., 2019, August. Mixed Random
Sampling of Frames method for counting number of motifs. In Journal of Physics:
Conference Series (Vol. 1260, No. 2, p. 022013). IOP Publishing.
77. Zulkhibri, M., 2019. Macroprudential policy and tools in a dual banking system: insights
from the literature. Borsa Istanbul Review, 19(1), pp.65-76.
APPENDIX
Questionnaire
1. How long have you been working in the bank?

 Last 1 year
 Last 2-3 years
 Last 3 to 5 years
 More than 5 years
2. Does your bank face any issues concerning compliance with policies and procedures?
 Yes
 No
 Don't know
3. Do you think there is a need to comply with monetary policies within banking?
 Yes
 No
 Don't know
4. Do you think that government policy mainly contributes to banking performance?
 Yes
 No
 Don't know
5. Which of the following operations improved by implementing monetary policy within a
bank?
 Liquidity
 Borrowing
 Lending
 All of these
6. Do you think that there are some drawbacks to using UAE monetary policy within banking?
 Yes
 No
 Don't know
7. Are there any challenges you face while complying with any policies?
 Yes
 No
 Don't know
8. Do you agree that monetary policies adopted by the company assist in improving the overall
financial performance?
 Strongly agree
 Agree
 Neutral
 Disagreed
 Strongly disagree
9. What is the relationship between sound monetary policies and procedures within borrowing

from Emirates National Bank of Dubai?
 Positive
 Negative
 Both
10. Please suggest some ways through which the limitation of monetary policy can be reduced.
Interview questions:
Q1: Do you think the banking sector's performance is good in Dubai?
Interviwee-1 Yes the performance of banking sector is good in Dubai
Interviwee-2 It needs to be more focused and more policies needs to be taken.
Interviwee-3 Yes, I am agree with this.
Interviwee-4 No, there are more measures needed to be taken.
Interviwee-5 Yes, the performance of banking sector is highly effective.
Q2: Does your organisation is complying with monetary policy?
Interviwee-1 It is important no organization can deny in this context.
Interviwee-2 Yes my organization is definitely following the monetary policies
Interviwee-3 In this regards I would like to say that all the policies has been adopted in
appropriate manner.
Interviwee-4 Indeed, there is no doubt in this.
Interviwee-5 Offcourse, it is important as well.
Q3: What is the benefit of using monetary policy within the Emirates National Bank of
Dubai?
Interviwee-1 It is helping in managing the cash flow in the bank and supports the flow of cash.
Interviwee-2 I have witnessed that, financial stability of the bank can be maintained within
keeping total peecentage as the deposite.
Interviwee-3 Discount rate tool initiates the funding in the banks.
Interviwee-4 I have reviewd that, it helps in managing ecoinomic stability.
Interviwee-5 It is regulating the supply of money in the market.
Q4: What are the weaknesses of using monetary policy within the Emirates National Bank
of Dubai?
Interviwee-1 It can lead to reduce the customer borrowing rate.

Interviwee-2 Lower interest rate reducs the profitability of bank.
Interviwee-3 It decreases the financial stability.
Interviwee-4 There is no guarantee of growth.
Interviwee-5 I have seen that it creates disbalance between economic growth and banking
sector.
Q5: Do you face any challenges while adhering to monetary policy?
Interviwee-1 Yes, forcasting inflationary pressure is the major challenge.
Interviwee-2 It is hard to access the economic situation.
Interviwee-3 Fragility of the financial market is hard to analyse.
Interviwee-4 In my opinion, policy transmission mechanism ius the bigeest challenge.
Interviwee-5 The major risk is entitled within purchasing the government security.