The pressure is growing on the UAE banking system. It’s good that the Central Bank, with informal moves to limit dividends, appears to have spotted the early warning signs and acted to protect all-important liquidity in the UAE financial infrastructure. Liquidity is the essential lubricant of the financial engine. From it, all else follows – cash for investment, growth funding, corporate borrowing, right down to mortgage and rent payments and supermarket bills. Halt liquidity, and you halt the economy. The financial crisis that began in 2008 was so serious precisely because of the global threat to liquidity. For a while it looked as if the world’s ATMs would simply stop paying out cash.