VOL. XLIII

No. 35

28-August-2000

UAE

UAE Banks Present IAS-Compliant Results For 1999

Following years of criticism of the countrys lack of financial sector transparency, in 1999 UAE banks achieved unprecedented levels of compliance with International Accounting Standards (IAS) in the presentation of their financial results and a new level of disclosure regarding the state of asset quality in the countrys financial sector. While some banks had been reporting non-performing loans for several years...