Featured
UAE Plans to Loosen Cap on Bank Lending to Property Industry

(Bloomberg) — The UAE’s central bank is working on new rules that will loosen the cap on bank lending to the struggling real estate industry.
UAE banks can currently lend as much as 20% of customer deposits to the property industry. That will be raised to a still-undecided figure but lenders that exceed 20% would incur a capital charge, central bank Governor Mubarak Rashed Al Mansoori said in Abu Dhabi on Sunday.
“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 policymakers to loosen the limit amid a property slump that has affected lending.
Al Mansoori also said:
- The UAE economy is expected to expand 2.4% in 2019 and accelerate at a faster pace next year
- UAE banks’ third-quarter non-performing loans stood at 6.4%, compared with 5.7% in the year-ago period
Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes.
-
Economy2 months ago
Here’s Everything You Need to Know About Oman’s State General Budget for 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, December 24
-
Automotive1 week ago
[REVIEW] A Legend Reinvented: The Nissan Patrol Y63 Blends Heritage with Modern Mastery
-
Banking & Finance2 months ago
His Majesty the Sultan Appoints Ahmed Al Musalmi as Governor of the Central Bank of Oman
-
OER Magazines3 weeks ago
OER, January 2025
-
Alamaliktistaad Magazines4 weeks ago
Al-iktisaad, January 2025
-
Banking & Finance4 weeks ago
Ishraq Waqf Investment Fund Announces Extension of IPO Subscription Deadline
-
Banking & Finance1 month ago
Bank Muscat’s 2024 Net Profit Grows To RO225.58Mn