The central bank of the United Arab Emirates plans to issue broad regulations governing the housing mortgage industry by the middle of this year, aiming to ensure the stability of the sector, two sources familiar with the matter said on Sunday.
"The final pieces of the new mortgage regulations are being put together. It could be ready for issue by June this year," one of the sources told Reuters, declining to be named because the information has not yet been made public.
The regulations will deal with all important aspects of mortgage lending, the source said without going into details. A central bank spokesman declined to comment.
UAE central bank plans broad mortgage rules by mid-2013 - bi-me.com
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