UAE may extend GRE bank loan rule deadline
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed May 30, 2012 11:52 am

UAE. The central bank of the United Arab Emirates may extend the deadline for some banks to comply with rules curtailing their exposure to government-linked companies, Al-Khaleej newspaper reported, citing Chairman Khalil Foulathi.

Changes to the deadline will depend “on each bank, its exposure and the time remaining in the loans” given to local governments or government-related enterprises, Foulathi said, according to the newspaper. The Abu Dhabi-based central bank will not cancel or amend the rules, he said in the report.

Banks in the United Arab Emirates can lend no more than 100% of their capital to local governments and the same to government-related entities known as GREs, the central bank said April 4.

There was no limit under previous rules. Banks have until Sept. 30 to comply with the rules, the central bank said at the time.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: August 1, 2014
INTERNATIONAL. The Israelis and Palestinians have been trapped for decades between delusions and denial and both have resorted to ideological and religious dogmas that dismiss with conviction any factual evidence to the contrary.
date:Posted: August 1, 2014
INTERNATIONAL. Long-term infrastructure debt poses a significant pricing challenge with no market prices, private cash flow data scattered amongst originators, and covenant structures creating "embedded options" that are not taken into account in standard valuation models.
date:Posted: July 31, 2014
UAE. Rotate into high-yield bonds which offer better value; Large IPOs could drain money out of stock markets and raise volatility ahead, says Emirates NBD investment chief.
INTERNATIONAL. The Israelis and Palestinians have been trapped for decades between delusions and denial and both have resorted to ideological and religious dogmas that dismiss with conviction any factual evidence to the contrary.
dhgate