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DUBAI: UAE’s central bank yesterday said it wanted to finalise a review of regulations on mortgages, banks’ loan exposure and liquidity to make sure they were put into practice quickly.
The central bank has imposed regulations to limit risk at UAE commercial banks three times over the past year, but has then backed off from enforcing them after complaints from the banks.
“The Board instructed speedy finalisation of the review of all articles of the said regulations to expedite approval and ensure timely implementation thereof,” the central bank said in a statement.
Saeed Abdulla Al Hamiz, assistant central bank governor for banking supervision, said on Wednesday the central bank must act this year to push forward the previously issued rules and policies. Reuters