The United Arab Emirates’ central bank is saying it “stands behind” local and foreign banks operating in the country, offering them access to money in a sign the Gulf Arab nation’s federal government is racing to curtail investor fears over Dubai’s crushing debt.

Mark Johnston’s Nakheel, as short as 10-1 in some lists for the Stan James 2000 Guineas, is under a cloud and will not have his planned racecourse gallop at Newmarket this week.