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.



date:Posted: March 19, 2018
LONDON. Corporate board diversity will be key for companies' long-term success; EY announces global innovation garage to meet demand for disruptive technologies.
date:Posted: March 18, 2018
UAE. Internet of Things is rapidly expanding the attack surface of the digital enterprise and exposing it to risk levels not seen before.
date:Posted: March 18, 2018
UAE. Unprecedented disruption is steadily engulfing the regional banking and financial services space with the private sector, governments, and individuals realigning their operations in line with the day-to-day needs of the customer.
UAE. Senior figures from the financial services industry will share valuable industry insight and practical knowledge, on key topics including AML national risk assessment, Regtech and Fintech, art and financial crime and the future of Fintech.