Some of the biggest banks in the United Arab Emirates are refusing to use an organisation set up to help them assess potential borrowers, the head of the Gulf state's banking lobby group said.
Authorities see the recently-open
Nearly half of UAE residents choose to save their money in bank accounts outside their country of residence, a report said.
More than 48 per cent of respondents of an annual survey conducted by compareit4me.com, a UAE-based financ
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