UAE to announce bank exposure rules by November, says banker - Alarabiya.net English | Front Page

UAE to announce bank exposure rules by November, says banker - Alarabiya.net English | Front Page:

"The United Arab Emirates central bank is expected to announce within one or two months rules restricting the amount of exposure which banks can have to the debt of government-related entities (GREs), a top commercial banker said on Tuesday.
Abdulaziz al-Ghurair, head of the national banking industry association and chief executive of Mashreq Bank, told reporters that each bank would then discuss the time frame for its compliance with the central bank on a case-by-case basis.
“It is already finalised by the central bank. Now the central bank just has to announce it - I think in the next month, two months max. It’s already passed the board,” he said."

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