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UAE: Islamic banks object to new law

Posted on 23 November 2011

Islamic banks operating in the UAE have objected to new lending rules enforced by the Central Bank early this year and requested amendments for their own business, saying some of the new rules violate Shariah banking.
The higher coordination committee for the Islamic banks said it had submitted proposals to the central bank asking for common standards for all dealings in Shariah-compliant banks in the second largest Arab economy………………………………………..Full Article: Source

 
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