UAE minister warns banks who fail to cooperate in Emirati debt settlement scheme | The National:
"Banks have been warned that they face penalties if they do not cooperate in a scheme to help heavily indebted Emiratis settle up
Ahmad Al Zaabi, Deputy Minister of Presidential Affairs, said many banks had agreed to take part in the Debts Settlement Fund initiative, but some had not.
“We advise the banks that have not cooperated yet with the fund to do so,” said Mr Al Zaabi during the launch of the fund’s headquarters in Al Jazeera Club stadium.
“If they continue to refuse to cooperate we will contact the Central Bank to publish the names of these banks. Decisions will be issued for the Government to not cooperate with these banks as well.”"
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