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UAE Central Bank Expects Recovery of Economic Activity in H2 2020

The Central Bank of the UAE, CBUAE, has projected the recovery of economic activity to commence in the second half of the year. The first...

UAE Central Bank Announces $27.2 Billion Economic Support Scheme

The Central Bank of the UAE, CBUAE, has launched an AED100 billion comprehensive targeted economic support scheme for retail and corporate customers affected by...

UAE’s Central Bank governor clarifies mortgage regulations

The circulars sent by the Central Bank setting the maximum value of mortgages for foreigners and nationals at 50% and 70% of the property...

Central Bank of UAE launches International Bank Account Number

The Central Bank of the UAE today announced the introduction of the International Bank Account Number (IBAN) as a standard for identifying all bank...

UAE Consumers on Spending Sprees

Deposits decreased, loans increased The UAE Central Bank today announced that money supply M0 (currency in circulation + currency at banks) increased by 0.4%, from...

New personal loans system from May 1, 2011

A new retail loan system announced by the Central Bank earlier in 2011 aiming at regulating personal lending will be enforced on May 1,...

Central Bank announces increase in money supply

The Central Bank of UAE announced today that the money supply M0 (currency in circulation + currency at banks) increased by 2.3%, from AED...

UAE banks must refrain from offering loans over the phone

In recent news and regulations issued from the central bank of the UAE, another restriction has been implemented on the banking sector. All banks must...

Central Bank approves regulation for classification of loans

The Board of Directors of Central Bank of the UAE held its 6th meeting for the year under the chairmanship of Khalil Mohammed...

Abu Dhabi gives $10 bln to Dubai, repays Nakheel bond

Statement from Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee The Government of Dubai, acting through the Supreme Fiscal Committee...

Central Bank backs banks operating in UAE

Central Bank of the UAE announced today that it stands behind UAE banks and branches of foreign banks operating in the country. Central Bank...

Central Bank reduces interest rate on liquidity support facilities to 1.5%

H.E. Khalil Mohamed Sharif Foulathi, Chairman of the Board of Directors of the Central Bank of UAE, announced today that, with effect from Tuesday,...

UAE Central Bank sets up crisis committee with banks

Representatives of the Central Bank of the UAE and major national banks met yesterday to discuss the challenges faced by the UAE banking system...

Liquidity stable in UAE banks

Real estate loans at the UAE banks stood at AED173 billion at the end of last year. As liquidity is stable in the UAE banks,...

Banks ordered not to publish audited annual accounts

UAE Central Bank ordered all banks not to publish their audited annual accounts or announce any data related to the 2008 results, according an article...

The Central Bank plans Dirham-Dollar Swaps to support banks

The United Arab Emirates central bank said on Wednesday it would provide UAE dirham-U.S. dollar swap facilities to banks to further support the banking...

Financial Stability Unit established by the Central Bank

According Zawya Dow Jones and Emirates Business 24/7, UAE's Central Bank has set up a new task force to help the country’s financial industry...

UAE Banks will continue financing the economic sector

Obaid Humaid Al Tayer, State Minister for Financial Affairs, has directed the banks to continue financing basic economic sectors, in order to help sustain...