Non-performing loans in the banking system rose for the eighth month in a row in April as Central Bank officials forecast a further increase in bad debt in the second half of the year.`
Exposure to an oversupply of units in the property market was a main reason for the rise in non-performing loans (NPLs), said Saeed al Hamiz, the senior executive director of banking supervision and examination at the Central Bank.
"Usually when you have a global financial crisis it's natural for [NPLs] to go up as the ability for people to pay is affected," he said yesterday.
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