The impact of conglomerate Dubai World's restructuring plan is expected to be "manageable" for United Arab Emirates banks, Moody's ratings agency said on Thursday.

"The proposed framework for the restructuring of Dubai World Group is unlikely to have direct negative rating implications for banks in the United Arab Emirates," the agency said in a statement.

"However ... the sustained adverse economic conditions are continuing to pressure the country's banking system," it added. Two local banks, Emirates NBD and Abu Dhabi Commercial Bank, are part of a seven-member committee that has been leading the negotiations between state-owned Dubai World and its nearly 100 creditors.