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UAE lenders urged to find solutions to loans defaulted by Emiratis
- United Arab Emirates: Wednesday, September 26 - 2012 at 03:05
The UAE central bank has asked banks and financial institutions operating in the country to find a solution to the issue of settlement of the loans defaulted by Emiratis, Khaleej Times has reported. Governor of central bank, Sultan bin Nasser Al Suwaidi, encouraged bankers and top officials to implement the directives of the UAE president through finding appropriate solutions to address the issue of loan defaults. The governor also praised Standard Chartered Bank for generously waiving off debts of 31 UAE nationals by dropping legal cases without reclaiming from the Dhs10bn fund.
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