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Islamic Finance Briefing - Categorized | Banking, Finance, Market Moves more

UAE bank tightens bad loan rules to boost transparency

Posted on 16 November 2010

From Gulf-times.com: In a move aimed at improving transparency in the UAE banking sector, all lenders and financial institutions will now be required to make provisions for toxic loans on a quarterly basis, rather than at the end of the fiscal year, according to details from a UAE central bank circular.
The central bank said its review of unclassified loans held by lenders will “also serve as a catalyst for depicting a truly realistic financial position of banks and other financial institutions.”………………………………………Full Article: Source

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