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FinancialNews


  • 04-11-19

    UAE banks to loosen limit on lending to real-estate industry

    (MENAFN) The United Arab Emirates' central bank is working on new regulations that will loosen the cap on bank lending to the struggling property industry.

    Central bank Governor Mubarak Rashed Al Mansoori said in Abu Dhabi on Sunday UAE banks can currently lend as much as 20percent of customer deposits to the property industry. That will be raised to a still-undecided figure but lenders that exceed 20percent would acquire a capital charge.

    "We need to be flexible,"Al Mansoori said at a conference. But banks would "need to assess the risk-return profile of this investment. Is it worthwhile, do I want more capital?"

    Banks in the second-biggest Arab economy have called on policy makers to loosen the limit amid a property slump that has affected lending.

    MENAFN0411201900450000ID1099217610

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