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.
-
News2 months ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
OER Magazines3 weeks ago
Dossier – ToP 25 Personalities 2025
-
Banking & Finance2 months ago
Strong Performance and Strategic Approach: ahlibank announces Its Financial Results for the First Half of 2025
-
Economy2 months ago
Najla Zuhair Al Jamali Appointed President of bp Oman
-
News1 month ago
Ooredoo Wins Silver Stevie® Award for Diversity and Inclusion Excellence
-
Dossier3 weeks ago
Arabic Dossier – ToP 25 Personalities 2025
-
News1 month ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
-
Leaders Speak2 months ago
VIDEO: Robert MacLean on how NHI is Shaping Oman’s Next Generation of Hospitality Leaders