Wednesday 2 February 2011

UAE c.bank plans new rules to regulate bank fees | Reuters

The United Arab Emirates central bank will come up with new rules to prevent the Gulf Arab country's banks from charging excessive fees, its governor was quoted as saying by a news website on Wednesday.

"I agree that banks have increased their fees and commission rates and not interest rates," Sultan Nasser al-Suweidi was quoted as saying on www.emirates247.com website.

"There is a new set of regulations that are coming, and the central bank will intervene because matters are getting out of control," he said.

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