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FINANCIAL NEWS
UAE bank credit to industrial sector grows by 190pct
30 Mar 2017
(MENAFN) The UAE bank credit to the industrial sector increased by 190 percent to AED70bn over the past decade, accounting for 4.8 percent of the whole loans channeled to business sector in the UAE.
In addition, pioneering bankers in the nation showed optimism that the recent year will witness a boom in a number of business platforms, basically hospitality, tourism and leisure.
“Abu Dhabi Islamic Bank, ADIB, will continue to play a significant role in funding companies operating in fast-growing sectors in the country, “said Vice Chairman of ADIB Board of Directors.
Meanwhile, there are no financing arms specializing in lending the industrial sector in the nation, and therefore industrialists opt for commercial banks for credit.
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