In Bid For Transparency UAE Ctrl Bank Tightens Bad Loan Rules
In a move aimed at improving transparency in the U.A.E. banking sector, all lenders and financial institutions will now be required to make provisions for toxic loans on a quarterly basis, rather than at the end of the fiscal year, according to details from a U.A.E. central bank circular.
Read the full Dubai News here
Kyle Flanagan
Any chance you could upload the Central Bank (circular) document? I ask this because I'd be interested in reading a factual document instead of a diluted news article. Moreover, is this ruling limited to National Banks alone? Or does it include branches of Foreign Financial Institutions, as well?
Bigcityinformer
Hey Kyle,
we can not fully upload this here, but you can find the full version of the circular from the UAE Central Bank called "Regulation of Bank Provisions" here:
http://www.centralbank.ae/en/pdf/notices/Regulati…
Hope this helps