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UAE banks don’t trust borrowers: Survey

Posted on 13 October 2010

From Emirates247.com: UAE banks’ low confidence levels in the ability of the borrowers to repay loans, as well as the ongoing, high-profile restructuring in the region and lack of clear insolvency laws have emerged as the biggest constraints to bank lending in the UAE, according to a global survey by Norton Rose, a leading international legal practice.
Respondents acknowledge there is still a degree of nervousness in parts of the Middle East, with nearly half (47 per cent) of poll respondents attributing the minor rise in UAE lending in the first five months of 2010 to a lack of confidence in borrowers, while a further 47 per cent mentioning high profile restructuring in the region, according to the survey which offered respondents multiple choices……………………………………….Full Article: Source

 
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