Financial and Banking News

REGIONAL BANKING

UAE Forbids Unsecured Lending 

The Central Bank of the United Arab Emirates has forbidden all banks operating in the country to make unsecured loans. A new Central Bank circular, noting that loans with insufficient security have been made in recent years, has warned that "banks must obtain the necessary security for all borrowers, irrespective of positions or status, and give the relevant security documents to the Central Bank on...