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UAE mulls new system for grading loans
- United Arab Emirates: Tuesday, October 27 - 2009 at 11:03
The UAE's central bank has sent a circular to all banks in the country informing them of plans to introduce a new system for classifying loans and provisions, according to al-Khaleej daily. Investment and finance institutions in the UAE have been given until Wednesday to provide their feedback on the plans. The draft regulation specifies five loans categories ranging from 'normal', 'being monitored', 'below normal', 'recuperation doubtful' and 'lost loans', the report said.
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StaffTuesday, October 27 - 2009 at 11:03 UAE local time (GMT+4)
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