EXCLUSIVE: Noor CEO: UAE Rule On Lending “Challenging”

According to a senior banker, UAE banks face difficulties in implementing the central bank’s new regulations on curtailing lending to government firms. Noor Islamic Bank's CEO - Hussain Al Qemzi - explains that the objective of the central bank is not clear enough. He further adds that it is not the optimal timing for exercising control and putting in place regulations so that banks do not have enough time to change the situation. They are unable to sell the huge amount the possess of these assets in such a short time in the market available.

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