Banks in the United Arab Emirates are likely to get about five years to conform to new large-exposure rules which the central bank will impose, the head of the banking industry association said on Monday.
In an effort to prevent a
Banks in the UAE are seeking a five-year grace period and the exclusion of bonds from planned central bank rules that will limit their exposure to state-linked borrowers, a banking industry body said on Monday.
In April last year,
Two banks in the United Arab Emirates have signed a 900 million dirham ($245 million) loan facility to fund construction of a three-tower real estate project adjacent to Dubai's main thoroughfare.
Dubai's real estate secto
A consortium of UAE banks led by top lender Mashreq has secured a Dh4-billion ($1.08 billion) financing deal, with a joint venture between TAV-CCC-Arabtec for the construction of midfield terminal building at Abu Dhabi’s International Airp
The UAE sentiment is seen negative and banks are likely to be hit after Royal Bank of Scotland and two other banks abandoned talks on restructuring Dubai Group's $10 billion debt and threatened legal action, said experts on Tuesday.
The UAE central bank has directed lenders in the Gulf state to help reduce the debt burden of UAE nationals, with some bankers saying banks may have to write off certain personal loans.
The central bank, after a review of personal loans,
The UAE district cooling companies should follow the trend of merger and acquisitions popular among the Emirati banks, in order to benefit from consolidation and economies of scale, said an industry expert.
This strategic step will le
The banks in the UAE are likely to ease their lending criteria in 2011 for the small and medium enterprises (SMEs), who form the backbone of the country's economy, said a study.
The study, conducted by Jitendra Chartered Accountants, evalu
The UAE central bank wants lenders to raise to 80 percent their provisions against exposure to two Saudi conglomerates, according to newspaper reports on Monday, causing a decline in Dubai-based banking stocks.
Arabic dailies Al Khaleej a