Financial and Banking News

REGIONAL BANKING

UAF Banks Consider 'Junk Loan' Corporation 

According to a statement last week by the Governor of the Central Bank of the UAE, Mr. 'Abd al-Malik al-Hamar, the commercial banks in the federation are now considering the feasibility of establishing a corporation which would take on the management of their non-performing loans. Such a 'junk loan corporation' would in theory be financed jointly by the banks and the...