UAE Central Bank under pressure to break mortgage impasse - The National:
"The Central Bank is under pressure to break the regulatory impasse in its negotiations with the financial industry after eight months with little to show for its latest efforts.
Rules tightening mortgage critera and banks' exposure to government entities were postponed during the past year after resistance from the sector, while rules intended to help to sustain bank liquidity and transition payment cards to chip and PIN security systems were also delayed.
The banks might argue that they are in a comfortable position, having been encouraged to build up large capital buffers since the global financial crisis, but the IMF said in a report on the UAE economy last month that regulation to protect against future asset bubbles was vital."
'via Blog this'
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