UAE Central Bank delays new rules
December 16, 2012 2:38 by Reuters
The United Arab Emirates’ central bank decided to postpone implementation of new rules that cap commercial banks’ lending to state-linked companies and another regulation governing banks’ liquid asset ratios, it said on Sunday.
“The Central Bank Board of Directors reviewed banks’ feedback on the amendments to the Large Exposures Regulation, and decided to postpone implementation of the regulation until all items of the regulation are reviewed with banks,” it said in a statement.
“The Board also reviewed banks’ comments on the Liquidity Regulation…The Board decided to postpone implementation until details of the requirements of the regulation are agreed.”
The statement did not elaborate on when the regulations were now expected to be implemented.