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UAE Central Bank to tighten provisioning

Posted on 22 March 2010

From Gulfnews.com: The UAE Central Bank is in the final stages of issuing a circular on new provisioning norms, where the cut-off time for personal loans to be classified as sub-standard will be reduced from the current 180 days to 90 days, Al Bayan newspaper reported yesterday.

Existing regulations require banks to classify personal loans as substandard only when payment of principal or interest is in arrears beyond 180 days………………………………….Full Article: Source

 
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