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FINANCIAL NEWS
UAE to ease curbs on banks
06 Nov 2013
(MENAFN) The central bank in the UAE eased curbs on commercial banks’ exposure to state-linked debt, The Peninsula reported.
Each bank would have to cap lending at 100 percent of its capital, and lending to a single borrower is to be limited to 25 percent.
The central bank gave the country’s commercial banks five years to comply with the planned curbs after complains that the move will hurt their business.
The central bank governor said: ‘We think that is a reasonable time frame. Most banks will be compliant,” he said.
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