Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
UAE Banks Federation submits final proposal on Large Exposure
 

July 15, 2013: The UAE Banks Federation has raised the final proposal on Percentage Limits that Constitute Large Exposure to the central bank, after being adopted by the Special Committee tasked by the CEOs Advisory Council of the UAE Banks Federation during its last meeting in May 2013, and consists of NBAD, ADIB, Emirates NBD, DIB and NBF. The proposal primarily recommended to exclude marketable bonds/sukuks from the proposal, and to apply Means and Purpose test in order to determine whether the Large Exposure Regulation applies to an entity, and to consider five years term to fully comply with these Regulations.

H.E AbdulAziz Abdullah Al Ghurair, Chairman of UAE Banks Federation: 'We are fully dedicated for continuous cooperation and consultation with the Central Bank to provide necessary proposals and best solutions to all current and future banking issues. Assigning a special committee of CEOs on Large Exposure Limits, by UAE Banks Federation, was an excellent decision besides the role of the Wholesale & Corporate Committee which contributed earlier to form this proposal, where the special Committee reached the above proposal after evaluation. Once again, the UAE Banks Federation plays a significant role in promoting cooperation between banks in various issues to serve the community, the banking sector and the national economy. '

Earlier, the central bank has had to postpone the implementation of large exposure limits, scheduled to kick off in September 2012, and reconsider upon request of UAE Banks Federation, so as to allow time for banks to study, evaluate and refer back to the Central Bank with final proposals as per the questionnaire prepared for that purpose.


Posted by : Dubai PR Network Editorial Team
Viewed 16897 times
PR Category : Banking & Investments
Posted on : Monday, July 15, 2013  1:15:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Equity crowdfunding platform, Crowdcube, to launch in MENA
Next Story : Ajman Bank Postpones its Customers' Financial Installments f...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Chronoswiss adds beauty in blue to Sirius Chronograph Moon Phase collection [18562-Views]
A touch of elegance with Al Asel [10950-Views]
Introducing Pestle & Mortar [9601-Views]
Glamorous Gilda for elegant lady' [8876-Views]
World's First Cartridge-Free Laser Printer Now Available in the UAE [8174-Views]
Sony Middle East and Africa launches the new king of full frame mirrorless cameras – Alpha... [7704-Views]
Energy Transition is Accelerating Across Countries Worldwide According to 2019 World Energ... [6856-Views]
Pan Emirates Home Furnishing welcomes Autumn with its new collection [6673-Views]
The art of knurling [6192-Views]
Breitling Announces Partnership With Etihad Airways [6076-Views]
Tag Heuer Launches Limited Edition Green Aquaracer in the Kingdom of Saudi Arabia (KSA) [6076-Views]
Nikon ME Launches Film Festival - Cinema Z [5496-Views]
Union Coop constructs two commercial centers in Al Badaa (Jumeirah) and Barsha 3 [5130-Views]
CORUM announces Hu Bing as its new Global Brand Ambassador [4947-Views]
Protect your Hair with the New Hair Care Range from Color WOW. [4947-Views]
Chloé introduces the new vintage-inspired “Ayla” style [4880-Views]
Union Coop Signs a contract with AL Aber contracting to construct Umm Al Quwain Residentia... [4764-Views]
Admiral AC-One 45 Chronograph Bronze [4612-Views]
UAE Team Emirates' Pogacar Inches Closer to a Second Place Finish at La Vuelta [4612-Views]
Compact, yet spacious, Kia Pegas sedan to be sold in the UAE for the first time [4526-Views]
Midi Moment [4490-Views]
As Official Timekeeper of the 2020 IIHF Ice Hockey World Championship, Tissot starts the c... [4453-Views]
General Civil Aviation Authority launches 2nd edition of Global Investment in Aviation Sum... [4197-Views]
Burberry Beauty reveals its runway make-up look, inspired by the September 2020 show [4160-Views]
Beauty beyond time OMEGA's fine jewellery collection [4038-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories