Sharp differences are emerging between bankers and developers on the possibility of changing the lending levels by the banks in the UAE in the backdrop of the global financial crisis.
Discussions at the Abu Dhabi Economic Forum on the second day on Tuesday underlined the diverging perceptions of the two sectors on steps to be taken to revitalise the real estate sector.
While the developers said that the banks should ease lending by reducing the interest rates, the representatives of the banks noted that the global financial crisis has forced them to more cautious. The bankers said that they would be able to resume lending in full pace only after they assessed the depth of the crisis.
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