Financial and Banking News

REGIONAL BANKING

UAE Banks Bombarded with New Regulations

A torrent of new regulations has hit commercial banks operating in the UAE involving their holding of foreign assets and real estate as well as moves towards mergers and coordination.

Following its unsuccessful attempt to introduce Certificates of Deposit (CDs) last year (MEES, 22 October 1984), the Central Bank last week informed the banks that a new issue of floating rate CDs would be offered to them...