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Analysts expect six-month extension on loans regulation
- United Arab Emirates: Sunday, September 30 - 2012 at 03:25
Analysts have said lenders in the UAE, facing a soon-to-expire central bank deadline to comply with new regulations that cap lending to governments and its entities, may get yet another six months to fall in line with the new loan rules, Khaleej Times has reported. Last April, the central bank gave banks until September 30 to comply with the new rules that forbid banks from lending more than 100% of their capital to local governments and the same to government-related entities (GREs) to help reduce risk. "We expect the start of implementation to be extended by another six months to end of the first quarter of 2013, and include exceptions that would not derail the overall Dubai government-related entities' refinancing process," Bank of America Merrill Lynch analyst Jean-Michel Saliba wrote in a research note.
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