UAE hands Bahrain financial lifeline as Iran war shocks economy

UAE hands Bahrain financial lifeline as Iran war shocks economy

The UAE has stepped in to provide financial support to Bahrain as blowback from the war in the Middle East raises pressure on the island nation's economy. The two countries on Wednesday signed a currency swap agreement that will see the Emirati central bank provide up to 20 billion Emirati dirhams ($5.4 billion) to Bahrain over the next five years in exchange for Bahraini dinars. The arrangement will provide vital foreign currency liquidity to B…