Financial and Banking News


Government Commercial Borrowing Soars in UAE 

General government borrowing from the country's commercial banks soared from Dh5.26bn in March 1985 to Dhll.2bn ($3.05bn) in March 1986, according to figures released last week by the Central Bank of the UAE. Total lending by the commercial banks has increased from Dh40.6bn to Dh46.95bn ($12.8bn) in the year up to March 1986, so it is apparent that some 93.5% of this increase is accounted...