Banks look for direction - The National Newspaper

The bulk of bank write-downs linked to Dubai World may not happen before September, once lenders have received new guidelines from the Central Bank, analysts say.

Officials of the regulator are expected to issue guidance to banks about how to provision for the conglomerate’s restructuring process after a final agreement is reached between Dubai World and its 97 creditors.

Provisioning for exposure to Dubai World is not expected to show up significantly in the earnings of banks for the second quarter.