Bahrain proposes mortgage cut
Bahrain: Tuesday, December 11 - 2007 at 13:00
Bahrain's central bank said it wants to limit banks' exposure to the real estate market and has proposed reducing the value of the mortgages they offer at 25 per cent of total loans, reported Reuters. Banks would be able to finance up to 70 per cent of the value of a property if the proposal is approved. Bahrain's central bank is asking lenders to submit comments on its proposals by January 31.
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Amena Bakr, Senior ReporterTuesday, December 11 - 2007 at 13:00 UAE local time (GMT+4)
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