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UAE banks facing problems dealing with U.S. banks due to regulation

ABU DHABI, Dec 9 ( Reuters ) - The United Arab Emirates has raised concerns with authorities in the United States after its banks found difficulties working with U.S. correspondent banks due to a high regulatory burden, the Gulf state's central bank governor said on Wednesday.

"In particular our banks that use U.S. correspondent banks as agents to transact business are now facing difficulties as correspondent banks are subject to high costs of compliance with U.S. regulations - so called derisking," Mubarak Rashid al-Mansouri told a finance conference.

The UAE raised the issue with U.S. authorities in November but was also consulting partners in the Gulf and internationally, Mansouri said.

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