22 Aug 2011
(MENAFN) UAE’s central bank’s supervision and examination department’s manager, Saleh Al-Tenaiji, said that at the beginning of 2012, the bank would start evaluating its rules regarding retail lending, reported Arabian Business.
Al-Tenaiji added that the bank would depend on feedback from banks and clients in order study them and to see whether to amend the rules or not as the country planned to restrain extreme bank charges on clients.
He also said that monthly payments for loans should not surpass 50 percent of the client’s salary and any normal income, including personal, car and housing loans in addition to credit cards.
It is worth noting that UAE’s central bank also restricted personal loans at 20 times a customer’s monthly salary, where repayment periods shouldn’t go above 48 months.
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more